Ukraine will create 3 more joint ventures with Western arms manufacturers, - Svyrydenko
Currently, Ukraine is in the final stages of three agreements to establish three more joint ventures with European arms manufacturers.
This was stated by Vice Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko, Censor.NET reports citing Reuters.
She also noted that five joint ventures with Western arms manufacturers, including German and Lithuanian companies, have already been established. Several arms manufacturers have opened representative offices in Ukraine.
She added that there are currently three more agreements with European companies to establish joint ventures. They are already at the final stage. She did not disclose any further details about the new ventures or the scale of investment.
According to Svyrydenko, the arms production sector accounted for 1.8% of the country's gross domestic product in the first half of 2024, up from just 0.3% in 2021.
The news agency writes that details on the size of the defense industry in Ukraine are not officially disclosed, but President Volodymyr Zelenskyy said in October that Ukraine could produce 4 million drones a year and was ramping up military production, including missiles, an "unmanned missile" and vehicles.
