A system of control over foreign investment in the defense and industrial complex is being developed in Ukraine, said Deputy Minister of Foreign Affairs of Ukraine Yehor Bozhok.
“In light to the well-known situation related to the Motor Sich enterprise, the issue of introduction of a system of foreign investment control in Ukraine, especially in the defense industry, is on the agenda. This is a new trend that has emerged just in recent months, and the Economy Ministry is working with the U.S. partners to introduce such a system in our country,” Bozhok said in an interview with Interfax-Ukraine.
According to him, we are talking about the setting up of an authority like the State Export Control Service, but in the field of foreign investments.
“I want to point out that we are moving here even a little ahead of the EU, because the EU suddenly felt the same problem, and they just began to wonder what they need to do,” Bozhok added.
Motor Sich is a leading maker of helicopter and airplane engines.
According to a source in the government, at present about 75 percent of shares of Motor Sich are already owned by a group of Chinese owners, and the Antimonopoly Committee of Ukraine is deciding on the approval of a deal to purchase this package from them by Skyrizon and Xinwei Technology with further free transfer to Ukroboronprom 25.00002 percent of the shares. At the same time, the controversial stake in Motor Sich acts as a pledge for financing provided, inter alia, by China Development Bank.
The U.S. concern about the sale of Motor Sich to Chinese owners was sounded during a visit U.S. Presidential Security Adviser John Bolton to Kyiv in late August this year.
