G7 ambassadors: Corporatization of Ukroboronprom will help attract foreign investment

G7 ambassadors: Corporatization of Ukroboronprom will help attract foreign investment

Ukrinform
The corporatization of Ukroboronprom and the adoption of a new defense-industrial strategy will help attract foreign investment in Ukraine's defense and security sector.

The ambassadors of the G7 countries said this at a meeting with Deputy Prime Minister Oleh Uruskyy on April 29, Ukrinform reports with reference to the Twitter account of the UK Presidency of the G7 Ambassadors' Support Group in Kyiv.

“G7 Ambassadors met Deputy Prime Minister Uruskyy yesterday and looked forward to cooperating on the timely, thorough reform of the defence industry for Ukraine’s security, competitiveness and prosperity,” reads the report.

It is noted that corporatization of Ukroboronprom and the adoption of a new defense-industrial strategy and associated legislation, “fully aligned with OECD guidelines, would increase efficiency and help attract foreign investment to the sector”.

As reported, on January 29, the Verkhovna Rada passed at first reading the draft law, No.3822, "On the peculiarities of reforming the enterprises of the military-industrial complex of the state form of ownership", necessary for the reorganization of the state concern Ukroboronprom.

The document, in particular, provides for the transformation of Ukroboronprom into a joint stock company, the formation of industry business associations in the form of joint stock companies, as well as companies on the basis of the concern's enterprises.

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