Ukraine's President Petro Poroshenko has spoken in favor of privatization of public enterprises and corporations, and a transparent tender procedure for the appointment of their managers in order to reduce corruption.

"I am confident that state-owned enterprises and corporations are the source of corruption, and the privatization of state enterprises and a transparent procedure for the appointment to senior positions state-owned enterprises through competitive mechanisms, except for defense industry enterprises, will serve as efficient anti-corruption mechanisms," Poroshenko said at a meeting of the Anti-Corruption Council under the president of Ukraine in Kyiv on Tuesday.