Ukraine’s reform of the corporate governance of state-owned enterprises (SOEs) has been closely followed by the OECD Working Party on State Ownership and Privatisation Practices for nearly a decade. Since the publication of the 2021 OECD Review of Corporate Governance of State-Owned Enterprises in Ukraine, the Working Party has maintained a constructive dialogue with the Ukrainian authorities, supporting their efforts to align SOEs governance with the standards set out in the OECD Guidelines on Corporate Governance of State-Owned Enterprises.
This updated Review takes stock of progress achieved since 2021. Despite the immense challenges posed by Russia’s full-scale invasion, Ukraine has continued to advance reforms aimed at strengthening transparency, accountability and professionalism in the state-owned sector. Important steps have been taken to modernise the legal and regulatory framework for state ownership and to reinforce governance practices across the SOE portfolio.
The reform process has benefited from Ukraine’s active engagement with the Working Party and its broader community. Through peer dialogue and technical exchange, this cooperation has helped support the strengthening of governance practices and alignment of reforms with international good practices.
Reforming the governance of SOEs is a long-term endeavour. Progress is rarely linear, and lasting improvements require persistence, institutional capacity and sustained political commitment. The progress achieved by Ukraine under exceptionally challenging circumstances is therefore particularly noteworthy.
Looking ahead, continued efforts to translate reforms into consistent practice will be essential. Stronger governance and professional state ownership can play an important role in reinforcing investor confidence, supporting economic recovery and ensuring that state-owned enterprises contribute effectively to Ukraine’s reconstruction and long-term development.
The OECD Working Party on State Ownership and Privatisation Practices stands ready to continue supporting Ukraine on this path in close partnership with the Ukrainian authorities and its partners. While the reform journey is ongoing and challenges remain, the commitment demonstrated so far provides a strong foundation for the future.
Maija Strandberg,
Chair, OECD Working Party on State Ownership and Privatisation Practices