Kintex

The Bulgarian government has proposed to ban the sale of arms manufacturer VMZ-Sopot and arms trader Kintex on account of their major importance for national security.

Draft legislation to put the two wholly-state owned companies on the list of enterprises banned for privatisation would be submitted to parliament for approval, the cabinet decided at a weekly meeting on Wednesday.

Bulgarian arms  manufacturer VMZ-Sopot and arms trader Kintex will remain state-owned, it emerged on Wednesday after a weekly cabinet meeting.

The State Agency for National Security (DANS) is conducting an inspection at Kintex, a state-owned company dealing with weapons trade, the Bulgarian National Radio has said.

Short of being a perquisition, the activities carried out at Kintex are related to deals done by the company, the public broadcaster quotes DANS sources as saying.

Bulgaria's defense industry is regaining lost ground in India, one of the traditional markets over the past 40 years, according to Stefan Ionkov, Head of Bulgaria's Commercial & Economic Affairs Office in Delhi.