Ukraine has invested $7B in its defense sector, and its allies are purchasing domestically produced equipment for the Ukrainian Armed Forces.

“Together with the government, the MoD has invested more than $7B in the defense industry. These investments provided us with enormous support when we were not receiving international technical assistance,” Defense Minister Rustem Umyerov said at the Ukraine 2024.

Independence forum. As he clarified, these investments were directed mainly to drones, EW, ground robotic complexes, and a unified state register of conscripts. Ukraine also developed a situational awareness system, the Reserve+ and Army+ services, and will launch Veteran+ soon. During a panel discussion, Prime Minister Denys Shmyhal said that Ukraine’s defense sector already had received its first contracts when partner countries began to purchase Ukrainian equipment for the Armed Forces of Ukraine, and the government plans to increase such cooperation.

He added that the government has introduced several more means of support for the defense industry. Among them are military bonds issued by Ukroboronprom, which are used to attract funds to the Ukrainian defense industry.