Ukrainian president signs privatization law

KIEV, March 2 (Xinhua) -- Ukrainian President Petro Poroshenko on Friday signed a law on privatization of the state property, the presidential spokesman Svyatoslav Tsegolko wrote on Twitter.

The legislation, which is aimed at attracting more investors, including those from abroad, was adopted by the Ukrainian parliament on Jan. 18.

The law provides an opportunity for the investors to sign contracts with the Ukrainian government and settle the disputes with it under the international law.

Besides, the legislation establishes transparent conditions for privatization through the introduction of an online auction, where investors may submit their bids.

Under its major privatization program for 2017-2020, the government targeted to privatize a total of 893 facilities to fill the cash-strapped state budget, enhance the efficiency of the enterprises and create new jobs.

Last year, Ukraine raised about 128 million U.S. dollars from privatization. Enditem