With investment involvement, Ukraine's defense production potential could reach $20 billion. Ukrainian Defense Minister Rustem Umerov stated this during a panel discussion at the Yalta European Strategy forum.
Umerov specifically urged international partners to invest more actively in Ukraine's defense industry.
He noted that Ukraine is capable of significantly increasing the production of military equipment and armaments, but this requires support from foreign investors.
According to the Ukrainian Defense Minister, the key needs of Ukraine remain timely financial and military assistance.
“Last year we planned our production capabilities and determined how much we could jointly produce in the private and public sectors. At that time, our potential was $7 billion. By 2025, we could triple this figure. According to our estimates, with additional funding, the defense production potential could reach $20 billion. We are ready to open joint ventures with you. We can introduce you and connect you with any of our leaders to work together. This will also allow us to increase our capacities,” Umerov urged.
The Defense Minister also emphasized that the capabilities of Ukraine’s defense industry significantly exceed the level of investment the country can provide on its own.
“Ukraine has already gained recognition in the world for its bravery. However, we have also distinguished ourselves with creativity under difficult conditions. The Ministry of Defense is ready to open joint enterprises with partners. This will allow us to significantly increase our production capacities,” added Rustem Umerov.
