Rada passed the law on reforming “Ukroboronprom”

The law provides for the construction of a modern model of corporate governance at the concern’s enterprises.256 people's deputies voted for the adoption of the law / Photo UNIAN Vladimir Gontar256 people’s deputies voted for the adoption of the law / Photo UNIAN Vladimir Gontar

The Verkhovna Rada adopted in the second reading and as a whole the bill on reforming the enterprises of the defense-industrial complex of the state form of ownership, which provides for the corporatization of the state concern “Ukroboronprom” .

According to an UNIAN correspondent, 256 people’s deputies voted for the adoption of the draft law “On the peculiarities of reforming the enterprises of the defense-industrial complex of the state form of ownership” (№3822) with the required minimum of 226 votes.

According to the document, it is planned to build a modern model of corporate governance at the enterprises of the Ukroboronprom concern, which will protect them from corruption risks, conflicts of interest and direct political influence. In addition, Ukroboronprom’s enterprises will be rehabilitated at all levels: financial, social and production-technological.

Ukroboronprom: what you need to know 

State Concern “Ukroboronprom” was established in 2010 to ensure the effective operation and management of public sector economic entities engaged in economic activities in the field of development, manufacture, sale, repair, modernization and disposal of weapons, military and special equipment and ammunition participating in military-technical cooperation.

The concern includes about 140 enterprises of the defense industry of Ukraine.

Yuriy Gusev, General Director of the state concern Ukroboronprom, previously signed an order to start corporatizing the state concern. Gusev also stated that in 2021 the state concern will cease to exist, and holding companies will appear in its place.

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(C)UNIAN 2021

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