Bulgarian To Privatize Defense Companies

Discussion in 'Multi-Domain' started by Falcon, Apr 12, 2016.

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  1. Falcon

    Falcon Lieutenant Colonel Staff Member Social Media Team

    Oct 10, 2015
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    The Bulgarian government is planning to privatize two state-owned defense companies in the next few years, according to a draft midterm budget released by the Bulgarian Ministry of Finance and obtained by local news agency Novinite.

    The Cabinet aims to put up two manufacturers for sale: the country’s leading arms maker VMZ Sopot, which is to be privatized in 2018, and arms exporter Kintex, which is to be put up for sale in 2019.

    The Ministry of Finance said that the funds obtained from the sale are to be used by the government to acquire new multirole fighter jets for the Bulgarian Air Force. The new aircraft are to replace Soviet-designed Mikoyan MiG-21 jets.

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