The Supervisory Board of "Ukrainian Defense Industry" (Ukroboronprom) has decided, as part of the reform of the defense-industrial complex, to establish economic entities instead of the next 10 state defense enterprises.

After state registration, eight enterprises will become limited liability companies, and two will transform into joint-stock companies, according to the Ukrainian Defense Industry press service.

According to Herman Smetanin, the Director General of Ukroboronprom after completing the registration, the total number of corporatized enterprises will be 38 companies.

"We are committed to working as intensively and efficiently as possible, as required by the time and the tasks set by the leadership of the state: completing transformative reforms in the defense industry, building effective risk management and governance, and making changes on a company-wide scale to strengthen the compliance system and enhance accountability," added David Lomjaria, Chairman of the Supervisory Board of Ukroboronprom.