UkrOboronProm has taken the step of a new economic initiative in line with the needs of the Ukrainian Armed Forces. Deputy Prime Minister for Strategic Sectors Oleg Urusky has been presented with a comprehensive strategic plan for the transformation and development of UkrOboronProm by 2030. In this context, 60 defence industry enterprises involved in the economic initiative are planned to be converted into seven industrial conglomerates as “aircraft repair”, “armoured vehicles”, “high precision weapons”, “ammunition and special chemicals”, “radar systems”, “marine systems” and “special exports”. The remaining businesses will be transferred to the management of the created holdings and to the Ukrainian State Property Fund.
The defence firms reform initiated by the new UkrOboronProm team predicts the merger of governments and conglomerates and the gradual implementation of international corporate governance standards. The aim of the new economic initiative is to attract foreign investment in the defence industry. A new corporate governance model based on international standards and specific mechanisms will be presented to improve the performance of the companies that will participate in the initiative.
UkrOboronProm, one of Ukraine's state defence subsidiaries, accused the former administrations of “robbery” and shared a post saying that “the two largest schemes of taking possession of property”
Konstantin Bushuyev, Deputy Director-General of Security at UkrOboronProm, said UkrOboronProm is trying to create a legal environment that will be as effective as possible, both in terms of efficient use of the property and the fulfilment of tasks given to the defence sector.
