About past, present and future of Ukraine

Search mobile

Main War — Ukroboronprom will be transformed into the Ukrainian Defence Industry Joint Stock Company

War

Ukroboronprom will be transformed into the Ukrainian Defence Industry Joint Stock Company

21 Mar, 2023
262
Ukroboronprom will be transformed into the Ukrainian Defence Industry Joint Stock Company

Share this article


The Government is starting to transform the state-owned concern Ukroboronprom into the Ukrainian Defence Industry Joint Stock Company. The decision was made at a regular meeting of the Cabinet of Ministers on March 21, Prime Minister Denys Shmyhal said.

"This is not just a change of signboard, it is a reform that has been prepared for a long time before the full-scale russian invasion. Today, we more than ever need efficiency in the defence industry. We need to introduce a corporate governance model. We need to create conditions to attract investment in the production of weapons, equipment and ammunition. The relevant changes will also allow us to strengthen cooperation with our Western partners," the Head of Government said.

The Prime Minister stressed that Ukraine was striving to build one of the most powerful defence-industrial complexes in the world. This is necessary primarily for security, but it will also contribute to the economic development and recovery of the Ukrainian economy.


The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...