The Supervisory Board of JSC Ukrainian Defense Industry (former Ukroboronprom) at its second meeting decided to create business entities instead of the next 10 state-owned defense enterprises as part of the reform of the domestic defense-industrial complex.

As reported on the company's website on Monday, after state registration, eight enterprises will become limited liability companies, and two will be turned into joint-stock companies.

"Starting today, we have become one step closer to the final transformation of the public sector of the Ukrainian defense industry into a modern arms company. After registration is completed, 38 enterprises will be corporatized. The reform of the defense industry will contribute to the further development of technology and production, will help attract investment into the industry, build joint ventures with private partners, in particular with leading international companies, will make it possible to more effectively prevent corruption," CEO of Ukrainian Defense Industry Herman Smetanin said.