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Ukrainian aircraft builders now can set up JV with foreign partners

Ukrainian aircraft builders now can set up JV with foreign partnersUkrainian President Petro Poroshenko has signed a bill amending some Ukrainian laws in part of the creation of conditions for international cooperation of aircraft builders and developing Ukrainian aircraft building.

According to the law passed by Ukraine's Verkhovna Rada on July 14, 2016 and takes effect next day after its publication, the founders and/or members of such joint ventures can be foreign business entities, except for those located or operating in the territory of the state recognized an aggressor or occupant state and/or with respect to which sanctions are applied.

The document also provides for the extension until 2025 of state financial support to the system of sales of domestic aircraft through the mechanism of cheaper loans (partial compensation of interest rates).

It is expected the adoption of the law will allow up to 2020 to bring about UAH 5-10 billion of investment in the industry and increase sales by 20-25%.

Currently the leading Ukrainian designer and manufacturer of aircraft Antonov State Enterprise (Kyiv), part of Ukroboronprom Concern since 2015, is drafting plans on joint production with foreign partners, including An-132 multi-purpose transport aircraft and An-148/158/178 next generation aircraft family.

Among potential foreign partner are Saudi Arabia, Germany and India.
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