Ukraine to complete privatization in five years – president

Ukraine’s President Viktor Yanukovich plans to complete privatization of all assets except those he considers crucial. That's the main message of his first annual address to the nation.

Ukraine has been bogged down by poor politics for years, and the time for change is now – that was the general mood of Yanukovich’s address.

“I’m setting a mission to complete privatization of state property in five years. The state will retain only the key objects that help the government to fulfill its functions and maintain security,” Yanukovich said.

He also spoke about a shift of paradigm of Ukraine’s foreign policy.

According to Yanukovich, Ukraine will be "strictly committed" to the non-aligned status and intends "to take an active part in developing a collective security system on the European and Euro-Atlantic space".

"The neutral policy meets the interests of Ukraine and the challenges of time," Yanukovich said, adding that it is necessary "to continue cooperation with NATO and other security organisations".