Ukraine ready to increase arms production, but money is needed - president

Ukrainian companies are ready to increase weapons production, but this requires financing, including financing from partners.

Ukrainian President Volodymyr Zelensky said this at a joint press conference with Lithuanian President Gitanas Nauseda, Croatian Prime Minister Andrej Plenkovic and Latvian Prime Minister Evika Silina as part of the fourth Crimea Platform summit in Kyiv on Wednesday, according to an Ukrinform correspondent.

Speaking about arms production in Ukraine, Zelensky said: "Today, Ukrainian market participants are ready to increase and double production. Some private companies are ready to do everything as well as possible and increase production. They are ready but we don't have funds in the budget. So we're asking our partners to help with funding, because it's important."

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He added that Ukrainian arms manufacturers are "cheaper and faster."

Zelensky also noted that he raised this issue at the latest meeting of the Ukraine Defense Contact Group.

Ukrainian Foreign Minister Andrii Sybiha earlier called on partners to increase investments in Ukrainian arms manufacturers.