A Land Bank may appear in Ukraine

The head of the State Property Fund of Ukraine, Rustem Umyerov, said on the air of the Yedyni Novyni telethon that there are currently plans to create a Land Bank and an Investment Real Estate Fund in the country.

"These institutions will contribute to the development of the agricultural sector and the real estate market in Ukraine," the official emphasized.

In addition, according to him, Ukraine will cooperate with the United Arab Emirates to create a Sovereign Fund, which should play a major role in the development of the Ukrainian economy.

"The sovereign fund is a financial instrument that provides effective management of national assets in many countries of the world. Three such funds operate only in the UAE. Thanks to the partnership with this country, the Sovereign Fund of Ukraine will be able to implement large infrastructure projects that will contribute to the development of the Ukrainian economy," said Rustem Umyerov.

In addition, the FSMU is currently helping to restore the work of Ukrainian industry. This happens, in particular, in partnership with the Ministry of Economy through the Made in Ukraine initiative. It is assumed that any Ukrainian entrepreneur can purchase abandoned state assets at small privatization auctions. These industrial sites with communications can become a base for the creation of new industrial enterprises.

"The goal is that Ukraine should become the main industrial hub and platform of Europe," summed up the head of the FSMU.

It should be noted that since the beginning of the year, the State Property Fund has managed to hold 150 successful auctions, thanks to which it was possible to attract investments worth UAH 1.5 billion. For one asset, the average competition was more than five participants. The average increase in the value of objects reached five times.