The progress of the Ukroboronprom reform became the topic of a round table organized on June 9 by the Independent Anti-Corruption Commission (NAKO) and the Concern. The event was attended by Minister of Strategic Industries of Ukraine Oleksandr Kamyshin, Deputy Minister of Defenсe of Ukraine Volodymyr Gavrylov, Head of Ukroboronprom Yury Gusiev, and industry experts.
During the round table, its participants discussed the current course of corporate governance reform in the state sector of the domestic defense-industrial complex. During the event, it was said that state defence enterprises could create joint ventures due to the reform and ensure technology transfer and investment attraction. This will create conditions for a fundamentally new ecosystem of the domestic defense sector, which should become a driver of the development of Ukraine's economy during the war with Russia and in the post-war period.
Also, the transformation of the defence industry should create conditions for the growth of production, which in turn should improve the supply of the Defence Forces of Ukraine with high-quality and modern weapons and military equipment for Ukrainian production. Civil society experts analyzed the documents supported by the government's resolution regarding the corporatization of the concern and presented their position during the event. Professional public organizations believe that these documents generally meet OECD corporate governance standards. At the same time, independent experts called for eliminating certain shortcomings. In particular, specialized public organizations call for amendments to the legislation to form the Supervisory Board of the future joint-stock company on a competitive basis. This will guarantee the independence of independent members and, accordingly Supervisory Board.
Public organizations call on the government to develop and present for public discussion an action plan for the transformation process of Ukroboronprom. This action plan should clearly define the goals, deadlines, appropriate resources, and responsible officials for each stage, which is necessary to establish proper corporate governance in the future joint-stock company "Ukrainian Defence Industry". Professional experts will continue to monitor the defense concern's reform process actively. At the same time, civil society expects that the Concern will turn into a joint-stock company by the end of summer 2023.
We will remind you that the reform of the state sector of the defense-industrial complex involves the transformation of state-owned enterprises into financial companies and the introduction of the best standards of corporate governance. The transformation creates conditions for the transformation of the state concern Ukroboronprom into an investment-attractive and efficient structure that must work according to corporate governance standards.
The event was held with the support of the UK Special Adviser on Defence.
During the round table, its participants discussed the current course of corporate governance reform in the state sector of the domestic defense-industrial complex. During the event, it was said that state defence enterprises could create joint ventures due to the reform and ensure technology transfer and investment attraction. This will create conditions for a fundamentally new ecosystem of the domestic defense sector, which should become a driver of the development of Ukraine's economy during the war with Russia and in the post-war period.
Also, the transformation of the defence industry should create conditions for the growth of production, which in turn should improve the supply of the Defence Forces of Ukraine with high-quality and modern weapons and military equipment for Ukrainian production. Civil society experts analyzed the documents supported by the government's resolution regarding the corporatization of the concern and presented their position during the event. Professional public organizations believe that these documents generally meet OECD corporate governance standards. At the same time, independent experts called for eliminating certain shortcomings. In particular, specialized public organizations call for amendments to the legislation to form the Supervisory Board of the future joint-stock company on a competitive basis. This will guarantee the independence of independent members and, accordingly Supervisory Board.
Public organizations call on the government to develop and present for public discussion an action plan for the transformation process of Ukroboronprom. This action plan should clearly define the goals, deadlines, appropriate resources, and responsible officials for each stage, which is necessary to establish proper corporate governance in the future joint-stock company "Ukrainian Defence Industry". Professional experts will continue to monitor the defense concern's reform process actively. At the same time, civil society expects that the Concern will turn into a joint-stock company by the end of summer 2023.
We will remind you that the reform of the state sector of the defense-industrial complex involves the transformation of state-owned enterprises into financial companies and the introduction of the best standards of corporate governance. The transformation creates conditions for the transformation of the state concern Ukroboronprom into an investment-attractive and efficient structure that must work according to corporate governance standards.
The event was held with the support of the UK Special Adviser on Defence.