A special temporary state participation right will be implemented for privatization of strategically important enterprises. The goal is to protect national security, social stability and public interests, according to a presidential decree signed on August 28 aimed at accelerating privatization, the decree states.
Under the decree, the state's temporary special participation right — modeled on international practice — will apply to the privatization of large and strategic enterprises and will be activated through a special presidential resolution.
The right will be made public before privatization takes place.
The move comes after the state's "golden share" right, which allowed it to participate in the governance of privatized joint-stock companies, was abolished in 2022. That mechanism had allowed the state to place its own representative on the supervisory boards of privatized enterprises, giving it the power to veto certain decisions.
- Under the August 28 decree, the State Commission for Privatization of State Assets and Coordination of Privatization Processes is being dissolved, with its powers transferred to the Agency for the Management of State Assets.
