On 9 December 2025, the Kyiv School of Economics hosted a workshop on large-scale privatisation in Ukraine, organised by the Ministry of Economy, Environment and Agriculture of Ukraine together with the KSE Institute, with the support of the State Property Fund of Ukraine, Prozorro.Sale, and the Government of the United Kingdom. 

The event brought together representatives of the Government, the Verkhovna Rada, businesses, international financial institutions, non-governmental organisations, and the expert community.

Dariia Marchak, Deputy Minister of Economy of Ukraine, and Nina Delany, Head of the Recovery, Energy and Growth Team at the British Embassy Kyiv, opened the event.

«Ukraine’s public sector has shown remarkable resilience during wartime. But it cannot alone deliver economic recovery and growth. This is where private capital and expertise is essential. Privatisation can deliver real benefits, including generating revenue, improving efficiency, fostering market openness, and attracting investment competitively. But there are benefits to keeping some sectors in governments control, with the right governance and regulation in place. We want to support Ukraine to get the balance, pace and process right to maximise the returns for Ukrainian taxpayers and the benefits for Ukraine’s economy», noted Nina Delany, Head of the Recovery, Energy and Growth Team at the British Embassy Kyiv.

Participants discussed the Government’s approaches to large-scale privatisation for 2026–2027, the proposed model for preparing key assets, and financial and institutional tools to support strategic investors from the state and international partners. The agenda featured two thematic discussions, a Q&A session, and concluding remarks.

Oleksii Sobolev, Minister of Economy, Environment and Agriculture of Ukraine, stressed that privatisation remains a key instrument for economic recovery and reform of the state-owned sector.

“Privatisation is a response to the challenges that have accumulated in state-owned enterprises over many years. The most effective way to address them is to engage responsible investors capable of restoring companies, creating new value, and ensuring long-term development. We are forming a transparent and consistent list of assets for privatisation and updating legislation so that investors have clear and predictable rules. Ukraine is opening new opportunities for investment, and we invite both Ukrainian and international businesses to take part in this transformation,” said Oleksii Sobolev.

The discussion addressed both the legislative decisions that could accelerate privatisation in the coming years and the government’s approach to building a full set of investor-support instruments. Government officials, members of parliament and representatives of the State Property Fund focused on the preparation of large assets, enhancing the transparency of procedures, and managing assets that require specific legal regulation or are linked to sanctions regimes. Members of parliament emphasised the importance of aligning legislative changes with business expectations and the requirements of European partners.

Dariia Marchak, Deputy Minister of Economy, Environment and Agriculture, presented the Government’s approach to creating a full set of tools to support investors. This includes technical preparation of assets, transaction support, and financial mechanisms developed jointly with international partners.

“Ukraine, together with its international partners, is working on building the infrastructure needed to support investor participation in privatisation: we must ensure high-quality asset preparation and jointly address key barriers — from accessible financing to effective war-risk insurance. Our task is to make entry for strategic investors as clear and protected as possible, and to ensure that support mechanisms extend not only to the pre-privatisation phase but also to the transfer of assets to new owners,” said Dariia Marchak.

Participants representing businesses and international organisations shared practical insights from taking part in privatisation auctions during the full-scale war. They highlighted key factors shaping investment decisions: the quality of asset preparation, access to financing, predictability of regulatory procedures, and the level of legal protection. Investors who have already entered privatisation during the war emphasised the significance of combining transparent processes with support from international financial institutions.

A separate part of the discussion focused on the European Union’s view of privatisation in Ukraine. EU representatives noted that privatisation is one of the key components of the Ukraine Plan and is closely linked to EU Integration — particularly those aimed at fostering competition, improving the efficiency of state-owned enterprises, and attracting investment into strategic sectors.

In the final part of the event, participants discussed business expectations regarding conditions for participating in privatisation competitions, as well as the sectors likely to attract the highest investor interest in the coming years. Business representatives stressed that investment decisions will depend heavily on access to financing, clear and predictable rules, and effective mechanisms for capital protection.

The workshop was held within the Ukraine’s Economic Recovery Programme, supported by the Government of the United Kingdom.