National Agency for Search and Asset Management is planning change the legislation to allow foreign companies, including American companies, to participate in tenders for the management of seized property in Ukraine.
The head of ARMA, Olena Duma, emphasized the importance of attracting effective managers to preserve and increase seized assets for the benefit of the state.
“We are initiating changes to the legislation to enable foreign companies to apply for participation in our transparent contests for the selection of a manager of seized propertyDuma said.
Eric Luman, chairman of the USUBC executive committee, confirmed the interest of American businesses in investing in the Ukrainian economy through the management of seized assets. However, the current requirement to have a representative office in Ukraine complicates the participation of foreign companies in ARMA tenders.
In addition, Olena Duma noted that some seized assets remain without effective management due to the need to obtain permission from the property owner. ARMA is working on solving this issue through legislative changes.
