Reform can increase the investment attractiveness of the Izmail port for partners, — Ukrport

The management of the Ukrport Association and the Izmail Sea Commercial Port State Enterprise discussed in detail the progress of the corporate reform.

In particular, the topic was the implementation of a modern corporate management model and attracting investments under martial law, the association’s press service reported.

Ukrport President Dmytro Barinov met with Vitaly Nikula, a member of the Association, head of the founding enterprise and chairman of the Izmail Port Reorganization Commission.

The main vector of the negotiations was a detailed analysis of the progress of the reforms and the implementation of a modern corporate management model.

“This issue has acquired strategic importance after the Government’s decision to change the organizational and legal form of the Izmail Port and transform it into a limited liability company (LLC),” the report says.

The participants of the meeting emphasized that the creation of an LLC on the basis of the state port is a necessary step to increase its competitiveness.

In particular, the reform should simplify the adoption of operational and financial decisions despite martial law. Such a step, in turn, may increase the port’s investment attractiveness for Ukrainian and international partners, and will also allow for a faster update of the technical base at the expense of the attracted capital.

Dmytro Barinov assured that the Ukrport Association will support the Izmail port on the path of transformation.

It should be noted that the parties agreed on the constant exchange of experience and coordination of actions for the successful completion of the reorganization, which should become an exemplary case for the port industry of Ukraine.

As previously reported by USM, Ukrainian ports are being reorganized into partnerships instead of state-owned enterprises. Among the state-owned enterprises subject to reorganization, there are seven Ukrainian ports.