Business news from Ukraine

SSAU HEAD: REFORMS IN SECTOR MUST ENSURE CREATION OF NEW MISSILE EQUIPMENT SAMPLES IN UKRAINE

23 February , 2016  

KYIV. Feb 23 (Interfax-Ukraine) – The restructuring of enterprises in the aerospace sector of Ukraine aims at creating new samples of missile equipment, taking into account current top-priorities of the state, Head of the State Space Agency of Ukraine (SSAU) Liubomyr Sabadosh has said in an interview with Interfax-Ukraine.

Assessing the approaches and tasks of the reforms that will start this year, taking Dnipropetrovsk-based Pivdenne Design Bureau and Pivdenmash being prepared for the restructuring, he said that general approaches of the SSAU to the restructuring of the enterprises could be presented in the following way: innovation development via corporatization with the retaining of 100% of shares in state ownership.

Sabadosh said that as part of the preparation for the structural reforms, the SSAU has drawn up the concept for reforming the sector until 2020 and the draft bill on the specifics of corporatization of the SSAU’s enterprises, being agreed by the agencies now.

“I would say that among advantages of the joint-stock company is the transparent financial and economic policy, public disclosure of the financial report and the improvement of the management structure,” he said.

“One of the tasks of the structural reforms is the increase of the prestige of the rocket science profession and the attraction of engineers and designers of rockets,” he said.

“The clear distribution of functional duties would allow focus on the realization of strategic sector development measures,” he said.