Ukroboronprom reform: G7 ambassadors urge not to delay implementation of law

Ukroboronprom reform: G7 ambassadors urge not to delay implementation of law

The ambassadors of the G7 countries have welcomed the adoption by the Verkhovna Rada of the Law "On Specifics of Reforming State-Owned Defence Industrial Complex."

"G7 ambassadors welcome the adoption by the Ukrainian parliament of law 3822 on reform of the defence industrial complex. The law provides a positive basis for corporatisation of Ukroboronprom and improving corporate governance standards across the sector, in line with OECD guidelines," reads the statement posted on Twitter account of the UK Presidency of the G7 Ambassadors’ Support Group in Ukraine.

The ambassadors also encourage the swift and thorough implementation of the law to minimise corruption risks. "Properly embedded, these reforms will enhance the global competitiveness of Ukraine’s defence industry and further ensure the country’s security," they said.

On July 13, the Verkhovna Rada adopted law No. 3822. The document, in particular, provides for the introduction of a modern model of corporate governance at the enterprises of the concern, which will protect them from corruption risks, conflicts of interest, and direct political influence.


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