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Automatically translated version. May contain inaccuracies compared to the original.
🔈 The investment program announced by the management of the state enterprise "Forests of Ukraine" for 4,1 billion UAH did not correspond to the enterprise's actual financial condition and could have been used to establish control over state funds.
The criminal scheme conceived and attempted by the former general director of SE "Forests of Ukraine," Yuriy Bolokhovets, and his accomplice, the suspended head of the State Forest Resources Agency, Viktor Smal, was
According to the deputy head of the NGO "Open Forest," Danyil Malandiia, Bolokhovets presented the enterprise's investment program as "transparent, open, and predictable procurement." It envisaged expenditures of 4,1 billion UAH in 2026 and 4,3 billion UAH in 2027.
However, the enterprise's financial condition did not allow for the implementation of such plans. Even before the program's presentation, its financial justification was supposed to be checked by the State Forest Resources Agency as the asset management authority and by the enterprise's supervisory board, since according to the statutory documents it is the supervisory board that approves SE "Forests of Ukraine" investment programs.
Malandiia explained that after paying taxes, dividends to the state, and other mandatory payments, the enterprise had about one billion UAH of undistributed profit. In the expert's opinion, the inflated figures could have been used to create long-term control over the procurement and financial flows of the state enterprise.
What is officially known — the key emphasis is support for the national producer: 2,1 billion UAH is planned to be allocated for the purchase of goods and services that can be provided by Ukrainian companies.
As emphasized by the Deputy Minister of Economy, Environment, and Agriculture of Ukraine, Taras Vysotskyi, the enterprise's investment plans fully align with the state policy of developing domestic production.
"The investment program of SE 'Forests of Ukraine' shows how state companies can work to develop Ukrainian manufacturing.
One of the program's first directions will be the purchase of fire-fighting equipment for 380 million UAH. Up to 95% of this amount may remain in the Ukrainian economy, since the country produces almost the full range of necessary equipment — from fire engines and modules to protective clothing and tools for creating mineralized strips.
Bolokhovets stressed that 80 million UAH are planned for forest restoration in 2026, and most of the machinery and tools for this work can also be supplied by Ukrainian companies. At the same time, modern logging machinery that is not currently produced in Ukraine will be purchased directly from European manufacturers. Trailers, semi-trailers, and lowboy trailers for their transportation, however, totaling more than 100 million UAH are planned to be ordered from domestic enterprises.
More than 621 million UAH is allocated for the construction of forest roads. The works will be carried out by the enterprise's own forces or with the involvement of Ukrainian contractors and materials of Ukrainian manufacture, which should reduce logistics costs and support regional economies.
Another 270 million UAH is planned to be invested in creating a network of modern forest seed centers. About 90% of these funds will go to goods and services from Ukrainian companies, which will allow for forest restoration with high-quality planting material in accordance with international standards.
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