10:51 07.02.2018

Economy ministry opposes monopolization of functions of organizing trading with arrested assets by SETAM

2 min read
Economy ministry opposes monopolization of functions of organizing trading with arrested assets by SETAM

The Economic Development and Trade Ministry of Ukraine opposes the monopolization of functions of organizing trading with arrested assets by state-owned enterprise System of Electronic Trading in Seized Property (SETAM), First Deputy Minister of Economic Development and Trade Maksym Nefyodov has said.

"We back expanding competition and access to trading. According to our point of view, it is illogical when one platform controls the entire system. We are actively communicating with the Justice Ministry and the Antimonopoly Committee of Ukraine to determine the best way out of the current situation," he said, answering the question of Interfax-Ukraine at a press briefing in Kyiv on Tuesday.

At the same time, Nefyodov said that he is not ready to name possible options for expanding the number of platforms that would organize these trades.

"I cannot comment yet on what exactly can be a way out of the situation due to a number of technical difficulties. For example, unlike most assets in other areas, there is a problem of storing this property. There are legal problems," he said.

The first deputy minister said that expanding the access to trading leads to increased competition, and the increase in the price of lots entails this.

"However, I urge not to make a drama out of this... It's a normal work, sometimes it takes more time than we would like," he said.

At the same time, Executive Director of Transparency International Ukraine (TI) Yaroslav Yurchyshyn said that, in particular, the option of segmentation of the arrested assets is being considered.

"Active discussions are being held on how to organize it. The arrested property is difficult to manage. One of the options under consideration is the segmentation of assets that SETAM sells," he said, adding that it is a question of selling those segments of assets for which there are all necessary judicial decisions and there is no need for their storage.

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