Ukraine urges West to invest in its burgeoning defence industry
New Ukrainian Foreign Minister Andrii Sybiha appealed on Monday to Western countries to purchase weapons for the Ukrainian army from Ukrainian manufacturers and called for investment in his country's defence industry.
Minister Andrii Sybiha stated that this is currently the best way to increase military assistance to Ukraine. "Our defense industry is growing at a rapid pace and can produce much more with additional investment. It is also faster and cheaper for our partners," the minister wrote on platform X.
Sybiha assessed that every pound or euro invested in weapons for Ukrainian soldiers is "the best investment in long-term Euro-Atlantic stability." Some partners are already buying from our manufacturers. We urge them to increase their investments and others to follow their lead, emphasised the head of Ukrainian diplomacy.
On Friday, Lithuanian Defence Minister Laurynas Kasčiūnas announced that his country would allocate €10 million (approximately £9 million) to Ukraine for the purchase of long-range weapons from its own manufacturers. He also called on allies to form a coalition to finance the Ukrainian defence industry.
Prime Minister Denys Shmyhal reported in the autumn of 2023 that Ukraine wants to increase defence and military equipment spending to £1.2 billion in 2024 to strengthen its defence industry. The authorities in Kyiv are ramping up efforts to produce their own weapons due to concerns that supplies from the West may drastically decrease.
In June, the State Statistics Service reported that weapon production in Ukraine increased by 25.4% in the first quarter of this year compared to the same period last year.
The Ekonomichna Pravda portal reminded me that in June, the Danish government allocated £138 million to support Ukraine's defence industry, and the state-owned Ukroboronprom signed a memorandum to create a joint venture with the American company Amentum Services.
Also in June, Ukroboronprom announced the opening of the first weapons repair and production facility, which was launched with Rheinmetall, a leading German defence company. In March, the authorities of this conglomerate informed about the planned opening of at least four artillery ammunition factories in Ukraine.
