The former Deputy Minister of Economy has been appointed Chief Operating Officer of the state-owned enterprise “Forests of Ukraine”
8 May 17:35
Igor Zubovich, former Deputy Minister of Economy, Environment, and Agriculture, has been appointed Chief Operating Officer of the state-owned enterprise “Forests of Ukraine.” The decision was approved by an order of the State Forest Resources Agency.
This was reported by the Ministry of Economy, Environment, and Agriculture, according to "Komersant Ukrainian".
In addition, Zubovych has been appointed chairman of the commission for the transformation of the state-owned enterprise “Forests of Ukraine” into a joint-stock company.
Corporatization of “Forests of Ukraine”
The corporatization process is provided for by Cabinet of Ministers Resolution No. 1003 of September 7, 2022. The main goal of this transformation is to modernize and improve the efficiency of the forestry sector in Ukraine.
The state will remain the owner of forestry lands, and the privatization of forest resources is prohibited. 100% of the shares in the future joint-stock company will belong to the state.
As noted by the ministry:
“the sector needs new approaches—more modern, transparent, and effective ones capable of ensuring a balance between economic sustainability, environmental protection, and the interests of the state.”
Among the key objectives of the reform are:
- Revising approaches to executive compensation
- Increasing management transparency
- Strengthening control over illegal logging
- Reducing corruption risks
- Strengthening environmental protection efforts, particularly the protection of Carpathian forests and biodiversity
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The role and significance of the State Enterprise “Forests of Ukraine”
The State Enterprise “Forests of Ukraine” unites 150 state forestry enterprises and is one of the largest forest users in Europe. The enterprise manages 6.6 million hectares of forest land and employs over 22,000 people. Its functions include forest management, protection, use, and regeneration, as well as game management.
According to the results of the first quarter of 2026, compared to 2023, the net revenue of the State Enterprise “Forests of Ukraine” increased by 87% to 8.6 billion UAH, pre-tax profit by 273% to 3 billion UAH, and tax payments by 166% to 4 billion UAH.
The first stage of the reform involved centralizing the management of state forestry through the creation of the state-owned enterprise “Forests of Ukraine.”
The final stage of the reform is the corporatization of the enterprise, which will enable the attraction of private investment—an important step in the development and modernization of Ukraine’s forestry sector.
As a reminder, President Volodymyr Zelenskyy previously instructed the government to hold an open and professional competition for the position of head of the state-owned enterprise Lisy Ukrainy.
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