Economic Development Ministry initiates creation of joint companies in military-industrial sector

Economic Development Ministry initiates creation of joint companies in military-industrial sector

The Cabinet of Ministers has supported a draft law submitted by the Economic Development and Trade Ministry, the ministry’s press service reports. .  

The bill has been developed to lift the current ban in the Ukrainian legislation on the creation of joint ventures in the defense sector of the military-industrial complex.

The document regulates the granting of the right to participating companies of State Concern Ukroboronprom to take part in the implementation of international projects by creating business organizations (joint ventures). This will allow large investors to enter the Ukrainian market and increase economic growth rates. At the same time, the bill excludes the creation of joint defense enterprises with the aggressor state.

“The creation of joint ventures in the form of business organizations for the implementation of investment and innovative, capital intensive, and long-term projects is international practice. We consider the bill as one of the main tools for attracting investments and creating modern technologically advanced weapons,” said Deputy Economic Development and Trade Minister Yuriy Brovchenko.


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