site.btaDefence Suppliers VMZ and Kintex Proposed for Inclusion on "No Privatization" List

Defence Suppliers VMZ and Kintex Proposed for Inclusion on "No Privatization" List

Sofia, May 4 (BTA) - The Council of Ministers decided to propose to the National Assembly to include ordnance manufacturer VMZ and defence product exporter Kintex on the "no privatization" list, the government press service reported on Wednesday. This is suggested to be done by amending and supplementing the Privatization and Post-Privatization Control Act.

The two commercial corporations are fully owned by the state. They are of structural significance for the national defence industry and constitute an important element of Bulgaria's national security, economy and presence on strategic international markets. If the bill passes in Parliament, it will ensure that VMZ and Kintex will remain state-owned, which will contribute to the stability and development of the two companies and the defence industry as a whole, the press release said.