经合组织《2026年乌克兰国有企业公司治理审查》

OECD Review oftheCorporateGovernance ofState‑OwnedEnterprises inUkraine 2026 Corporate Governance OECD Reviewof the Corporate Governanceof State‑Owned Enterprisesin Ukraine2026 This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed andarguments employed herein do not necessarily reflect the official views of the Member countries of the OECD. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. OECD (2026),OECD Review of the Corporate Governance of State-Owned Enterprises in Ukraine 2026, Corporate Governance,OECD Publishing, Paris, https://doi.org/10.1787/149d03e6-en. ISBN 978-92-64-71636-0 (print)ISBN 978-92-64-48988-2 (PDF)ISBN 978-92-64-34261-3 (HTML) Corporate GovernanceISSN 2077-6527 (print)ISSN 2077-6535 (online) Photo credits:Cover © Oleh Trytiachenko/Getty Images. Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/).Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of the original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. Preface Ukraine’s reform of the corporate governance of state-owned enterprises (SOEs) has been closelyfollowed 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 inUkraine, 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 onCorporate Governance of State-Owned Enterprises. This updated Review takes stock of progress achieved since 2021. Despite the immense challenges posedby Russia’s full-scale invasion, Ukraine has continued to advance reforms aimed at strengtheningtransparency, accountability and professionalism in the state-owned sector. Important steps have beentaken to modernise the legal and regulatory framework for state ownership and to reinforce governancepractices across the SOE portfolio. The reform process has benefited from Ukraine’s active engagement with the Working Party and itsbroader community. Through peer dialogue and technical exchange, this cooperation has helped supportthe strengthening of governance practices and alignment ofreforms with international good practices. Reforming the governance of SOEs is a long-term endeavour. Progress is rarely linear, and lastingimprovements require persistence, institutional capacity and sustained political commitment. The progressachieved by Ukraine under exceptionally challengingcircumstances is therefore particularly noteworthy. Looking ahead, continued efforts to translate reforms into consistent practice will be essential. Strongergovernance and professional state ownership can play an important role in reinforcing investor confidence,supporting economic recovery and ensuringthat state-owned enterprises contribute effectively to Ukraine’sreconstruction and long-term development. The OECD Working Party on State Ownership and Privatisation Practices stands ready to continuesupporting Ukraine on this path in close partnership with the Ukrainian authorities and its partners. Whilethe reform journey is ongoing and challenges remain,the commitment demonstrated so far provides astrong foundation for the future. Chair, OECD Working Party on State Ownership and Privatisation Practices Foreword State-owned enterprises (SOEs) play a central role in Ukraine’s economy, particularly in strategicallyimportant sectors such as energy, transport, infrastructure and logisti