Ukraine Boosts Defense Industry With $4 Billion Investment and Global Partnerships

Ukraine continues to enhance its defense capabilities through innovation and with backing of international partners, Ukrainian Defense Minister Rustem Umerov announced during the International Defense Industries Forum (DFNC2) in Kyiv.

“We have already invested $4 billion in the development of Ukrainian industry, and next year we plan to increase funding. Our priority is the development of domestic drones and long-range weapons, including ballistic missiles,” Umerov said during the event, which was co-organized by the Ministry of Strategic Industries and the Ministry of Foreign Affairs of Ukraine.

Ministry of Defense is actively working to engage foreign partners in the creation of joint ventures to boost the defense industry, the minister added. Key elements of this collaboration include long-term contracts for the production, supply, and maintenance of weapons, ensuring the Ukrainian Armed Forces needs are met in the long term.

“Ukraine’s defense industry has significantly enhanced its capabilities thanks to the support of our allies and the agreements reached at last year’s forum. The new agreements and partnerships signed today confirm that we are on the right path to victory,” said Herman Smetanin, head of the Ministry of Strategic Industries.

This year’s forum brought together more than 280 companies. Several new agreements were signed during the event, further strengthening Ukraine’s defense capabilities. The forum marked an important step in securing financial support from partners and advancing the development of Ukraine’s defense industry.

“One of our priorities is to develop Ukraine’s defense sector by strengthening international cooperation and attracting foreign investment. We will continue this work in collaboration with the Ministry of Defense and the Ministry of Strategic Industries,” concluded Ukrainian Foreign Minister Andriy Sybiha during the forum.

Earlier, Ukraine successfully tested new self-made ballistic missile.

In addition, French-German defense conglomerate KNDS has launched a subsidiary in Ukraine.