The State Property Fund has launched a large-scale program to privatize alcohol makers. The first one, Nemyriv Distillery, was sold at auction on October 15 for UAH 55 million.
Thus, the first private distillery in Ukraine has been born, while the state received not only budget income, but also considerable investment in the production development. In general, the alcohol industry is becoming more and more attractive to large foreign investors.
Note: in August 2020, the government approved a program of the alcohol industry reform and development to 2024 designed to combat shadow alcohol market, improve state policy for the industry development and create conditions for the emergence of a competitive market in Ukraine.