With foreign investment, the potential of defense production in Ukraine could reach $20 billion.

Ukraine’s Defense Minister Rustem Umerov said this at the Yalta European Strategy Forum.

He also called on international partners to invest more actively in the Ukrainian defense industry.

During the discussion, Rustem Umierov noted that Ukraine is able to significantly increase the production of military equipment and weapons, but this requires the support of foreign investors.

According to him, timely financial and military assistance remains Ukraine’s key need.

“Last year, we were planning our production capabilities and determining how much we could jointly produce in the private and public sectors. Back then, our potential was $7 billion. In 2025, we can triple this figure,” the Defense Minister stated.

According to the Ministry of Defense of Ukraine, with additional funding, the potential of domestic defense production could reach $20 billion.

“We are ready to open joint ventures with you. We can introduce you and bring you to any of our leaders to work together. This will give us the opportunity to increase our capacity as well,” Umerov emphasized.

He also noted that the capabilities of Ukraine’s defense industry far exceed the amount of investment that the country is able to provide on its own.

Last week, U.S. Secretary of State Anthony Blinken said at a press conference in Kyiv that the capabilities of Ukraine’s defense industry have expanded about sixfold in recent years.

According to him, this became possible mainly due to external investments. Blinken expressed his belief that companies from all over the world see Ukraine as “a very attractive place to invest, even despite the ongoing aggression.”

According to President of Ukraine Volodymyr Zelensky, domestic producers have the opportunity to increase the production of unmanned aerial vehicles, but this requires additional funding from partners. Ukrainian defense companies have also recently called on partner countries to purchase already manufactured products for which there are no contracts.