NABU`s activities increase the investment appeal of State Enterprises – Artem Sytnyk

Ukrainian State Enterprises (SE) need investment support but the corruption schemes (usually initiated by the top-management of the SE) hinder investments. This was stressed by the Director of the National Anti-Corruption Bureau of Ukraine (NABU) Artem Sytnyk at the 13th Annual Investment Conference Dragon Capital on March 16-17, 2017 in Kyiv.

In particular, the NABU Director underlined that almost every fifth criminal proceeding investigated by the National Bureau relates to executives of entities with State participatory interest of 50% or more.

"Corruption schemes at State Enterprises withdraw enormous resources that could be offered to investors. For example, four months after the NABU had revealed and then terminated a so-called "Onyshchenko’s gas scheme", the profit of PJSC Ukrgazdobyvannia reached 162 million UAH. In comparison almost three years of work within abovementioned scheme brought Ukrgazvydobuvannia 25 million UAH of profit only," mentioned Artem Sytnyk.

According to him, liquidation of corruption schemes will make the Ukraine’s economy more attractive for investment as the protection of the investors’ rights is one of the NABU’s strategic tasks.