Ukrainian Defense Minister Rustem Umerov expressed confidence in significant opportunities for the growth of the Ukrainian defense industry during the Yalta European Strategy forum. In his speech at the panel discussion, key aspects of the future development of Ukraine's defense sector were outlined:
Growth potential
Umerov noted that in 2023, the production potential of Ukraine's defense industry, both private and public, was about $7 billion. He predicts that by 2025, this figure could increase to $20 billion, three times the current level.
The need for foreign investment
The Minister emphasized that the existing capabilities of Ukraine's defense industry significantly exceed the amount of investment that the country can provide independently. Foreign investments are necessary to realize the potential and achieve the projected production volumes.
“We can increase production potential threefold, but this requires additional financing,” said Umerov.
The importance of investment
The high potential of Ukraine's defense sector is important both for ensuring national security and for supporting the country's defense capabilities in wartime. However, achieving these goals requires the active participation of foreign partners and investors who can provide financial resources and technological support.
Thus, the future of Ukraine's defense industry depends on the ability to attract foreign investment and take advantage of existing opportunities to significantly expand production capacity.
