During the Yalta European Strategy forum, the Minister of Defense of Ukraine, Rustem Umyerov, expressed confidence in the significant opportunities for the growth of the Ukrainian defense industry. Key aspects of the future development of the defense sector of Ukraine were voiced in his speech at the panel discussion:
Growth potential
Umerov noted that in 2023, the production potential of Ukraine's defense industry, both private and public sector, amounted to about 7 billion dollars. He predicts that by 2025, this figure could grow to $20 billion, triple the current level.
The need for foreign investment
The Minister emphasized that the existing capabilities of the defense industry of Ukraine significantly exceed the amount of investments that the country can provide independently. To realize the potential and achieve the forecasted production volumes, foreign investments are needed.
"We can increase the production potential by three times, but for this we need additional financing," said Umyerov.
Importance of investment
The high potential of Ukraine's defense sector is important both for ensuring national security and for maintaining the country's defense capabilities in wartime conditions. However, to achieve these goals, the active participation of foreign partners and investors who can provide financial resources and technological support is necessary.
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.
