PM Shmyhal comments on Ukraine’s investment in own defense industry

Ukraine has already invested dozens of billions of hryvnias in the domestic military-industrial complex.

This was stated by Prime Minister Denys Shmyhal during his speech at the Yalta European Strategy event in Kyiv, Ukrinform reports with reference to the prime minister's posting on Telegram.

"I'll start with what we've already talked about many times – the development of our military-industrial complex. Investments in this industry on the part of our government can already be estimated at tens of billions of hryvnias. In the future, it will definitely be hundreds of billions of hryvnias in order to develop, restore, and actually make our military tech powerful," he said.

Shmyhal noted that the Ukrainian authorities are at the same time betting on cooperation with international partners and localization of production.

"It is important to have joint production. Starting from the restored Mriya (Dream) in the literal and figurative sense of the word to the production of modern weapons and modern drones," the head of government added.

According to him, Ukraine has already done a lot for the development of its defense industry, but so far no more details can be shared.

As reported, the Ukroboronprom defense conglomerate (now - JSC Ukrainian Defense Industry) rose by 24 positions and ranks 65th among global arms manufacturers by revenue.