Ukrainian Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said Ukraine has already established five joint ventures with Western manufacturers.
What we know
According to her, Ukraine has established joint ventures with German and Lithuanian arms manufacturers. In addition, several foreign arms manufacturers have opened representative offices in Ukraine, indicating that military-industrial cooperation is strengthening.
Ms Svyrydenko refrained from disclosing details about the planned new businesses and the amount of investment in the sector. She also reported that weapons production in the first half of 2024 accounted for 1.8% of Ukraine’s GDP, while in 2021 this figure was only 0.3%.
Ukrainian SAU “Bohdana”
The draft state budget for 2025, prepared by the government for the second reading, provides more than UAH 55 billion for the production of weapons and military equipment.
The allocated funds will be used to expand production infrastructure, develop and implement innovative technologies and increase the production capacity of defense products.
Source : Reuters: Reuters
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