USPA Supervisory Board discussed corporatisation, integrated audit and dividend reduction
Corporatisation, integrated audit and dividend reduction was discussed during the meetings of the Members of the Supervisory Board of the State Enterprise “Ukrainian Sea Ports Authority” with the Minister of Infrastructure of Ukraine Vladyslav Kryklii and the representatives of the Parliamentary Committee on Transport and Infrastructure, which took place on September 19th, 2019, USPA says in a press release.
The Members of the USPA Supervisory Board shared with the legislative and executive power representatives their vision of the development of the Ukrainian Sea Ports Administration and of the port industry, as well as obtained the necessary information on the priorities which the state as an owner tasks the enterprise with.
“Most importantly, the USPA Supervisory Board, the Ministry of Infrastructure, and the Members of Parliament representing the relevant Transport Committee of the Verkhovna Rada as a whole have a common vision of the main directions of the enterprise development. The main priorities are as follows: the improvement of the competitiveness of ports, the increase in financing of the port infrastructure projects, the USPA corporatization, and essentially, the further development of transparent relations with the port community”, − Dmytro Barinov, the Chairman of the USPA Supervisory Board said.
Upon the outcome of the meetings, he emphasized that one can now be confident that the process of reforming the port industry, in particular the implementation of European governance principles and mechanisms of public-private partnerships in ports, would be supported by the government. It is planned that the rate of dividends coming from the USPA’s profit to the state budget would be reduced from 90% to 50% in 2020. This will allow to boost financing of the port infrastructure development projects. In turn, the Sea Ports Authority has to ensure the maximum openness and cost optimization, as well as to undergo an integrated audit.
“The Ministry of Infrastructure of Ukraine also stressed upon the importance of closer collaboration of the USPA Supervisory Board with the management of the enterprise to increase the efficiency and transparency of internal business processes. In particular, the Minister of Infrastructure is supporting the expansion of the authority of the USPA Supervisory Board in deciding on the staff issues at the management level on an open competition basis with the involvement of international experts”, − Dmytro Barinov emphasized.
“We are grateful to the Minister of Infrastructure of Ukraine, Vladyslav Kryklii, and the Chairman of the Committee on Transport and Infrastructure of the Verkhovna Rada, Yurii Kisel, for the opportunity to discuss in detail the issues of particular importance to the industry and are ready to actively cooperate with the legislative and executive power representatives to achieve fast and efficient results for both the state and businesses”, − the Chairman of the USPA Supervisory Board summarized.