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Українські рефератиРусские рефератыКниги
НазваHistoric overview of privatisation process in Lithuania (реферат)
РозділІноземна мова, реферати англійською, німецькою
ФорматWord Doc
Тип документуРеферат
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Privatization process was launched in Lithuania in September 1991 and
since then it has constituted an integral part of Lithuania's economic
reforms. The entire privatization process may be divided into three
major stages: 

The first stage covers the privatization that took place from September
1991 until July 1995. This phase may be called a mass privatization for
vouchers with some elements of cash sales. The voucher method was chosen
as the most effective way of transferring the ownership of the
state-owned enterprises. The privatization of state assets in Lithuania
during that phase has been based on the Law on Initial Privatization of
State Property passed in late 1991 and amended in 1993. As a result of
that phase, Lithuania has become a country with a majority of the GNP
generated in the private sector.

The second phase of privatization started in July 1995 with the
introduction of  a new Law on Privatization of State and Municipal
Property. A State Privatization Agency and a State Privatization
Commission were established in late 1995 to administer the process.
According to the Law, the second phase will call for cash privatization
of remaining state and municipal property at market prices. Local and
foreign investors will have equal rights in purchasing the companies
offered for the privatization in Lithuania. During the second phase of
privatization the government will have to decrease its control in the
sectors of economy generally recognized as the state monopoly through
the cash sales. According to the Law on Privatization all bidders have
equal rights in the privatization process. Previously existing
concessions for the employees and management have been eliminated from
the new Law. During the second phase of privatization the amount of
investment into Lithuania was comparatively small. Investors had to
lodge documents with many different institutions, and therefore the
privatization procedure took some time. Individual ministries were not
interested in preparation of objects for privatization. Besides, legally
the former privatization institutions had no right to transfer
obligations of enterprises to the purchasers because they were not real
managers of enterprises.  

New laws of privatization and State Property Fund (SPF) were passed in
November 1997. According to the aforementioned Law restructuring
Lithuanian Privatization Agency established the SPF and other related to
privatization and property management institutions. SPF holds in trust,
uses, disposes and privatizes securities and other state-owned property
transferred to it by the Government of the Republic of Lithuania.

  There are several possible methods of privatization:

public subscription for shares; 

public auction; 

public tender; 

direct negotiations; 

lease with an option to purchase; 

transfer of the state or municipal control of an enterprise controlled
by the

      state or municipality. 

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