The Cabinet of Ministers of Ukraine adopted decision to establish JSC “Ukrainian Defense Industry” (UOP). It will become the legal successor of the reorganized Ukroboronprom. The renovated enterprise will be 100% owned by the state.
This was stated by the Prime Minister of Ukraine Denys Shmigal. According to him, the reform that was being prepared even before the full-scale invasion of the Russian Federation would help Ukraine build one of the most powerful military-industrial complexes in the world.
“The government is starting transformation of the state concern “Ukroboronprom” into a joint-stock company “Ukrainian defense industry”. The corresponding decision was made at today’s (March 21 – Ed.) meeting,” the prime minister said.
According to him, the new enterprise, in particular, will attract investments in the production of weapons, equipment and ammunition. A change in the management model will enhance interaction with Ukraine’s foreign partners.
Back in 2022, GLOBAL HAPPENINGS received a draft resolution on the creation of a UOP. It noted that the replacement of Ukroboronprom with a successor would be an important step towards:
- introduction of a corporate governance model for business entities of the Organization for Economic Cooperation and Development;
- formation of prerequisites for increasing the competitiveness of state enterprises in the defense industry;
- creating conditions for attracting investments in the defense industry.
The updated resolution on the creation of the UOP at the time of publication of the material was not yet available on the website of the Cabinet of Ministers.
“Ukroboronprom” is a concern that unites enterprises of the defense industry of Ukraine. It includes organizations and companies in nine industries, including scientific institutions and industrial companies. The functions of managing the concern and control over its activities are carried out by the Cabinet of Ministers.
As GLOBAL HAPPENINGS reported, the state concern Ukroboronprom announced on March 14 that, in cooperation with the country of the North Atlantic Alliance, it began to produce 125-mm tank shells for the T-64, T-72, T-80. The production of BC takes place abroad.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
