The paper discusses the contradictions of state policy in the sphere of public ownership. It is noted that in the Ukraine there is a movement towards liberalization of all areas of public life which, on the one hand, justifies itself in the context of deregulation of certain spheres of the economy but, on the other, assumes a threatening character with regards to the unwarranted privatization of public property, etc. The inconsistency of the dominant scientific point of view on minimizing the participation of the state as the owner (entrepreneur) is emphasized. It is proposed that a system of innovative enterprises be created that would be able to accelerate the renovation of production in Ukraine. A new approach to the creation of state-owned enterprises has been developed. The expected results of the activity of the newly created state-owned enterprises and the directions of their further transformation are determined. The proposals presented in the paper will ensure the growth of the production potential of the domestic economy, which will be key to the accelerated socio-economic development of Ukraine.