Ukraine Privatization: Ukraine offers huge state firms to foreign investors

Ukraine said Thursday it would offer nearly 350 state firms for sale to foreign investors at an upcoming US conference aimed at saving the war-shattered country's imploding economy.

The huge privatisation effort -- due to kick off in October -- hopes to raise billions of dollars that could be used to plug a leaking budget and deal with the consequences of neighbouring Russia's effective economic blockade.

But foreigners have been wary of ploughing cash into a country still torn by a pro-Moscow separatist crisis that has claimed the lives of more than 6,500 people and brought swathes of Ukraine's devastated industrial heartland under rebel control.

The privatisation plan has also been hurt by some ministers' refusal to hand over companies under their jurisdiction into private -- and possibly foreign -- hands.

Ukrainian Economy Minister Aivaras Abromavicius said a total of 345 government-run properties would be presented to major US and European investors Monday.

Read more: Ukraine offers huge state firms to foreign investors - Yahoo News