The Minister of Defence of Ukraine stated this during a Yalta European Strategy Forum panel discussion.

In particular, Rustem Umerov called on international partners to invest more actively in Ukraine's military sector.

He noted that Ukraine could significantly increase the production of military equipment and weapons, but this would necessitate the support of foreign investors.

According to the Minister of Defence of Ukraine, Ukraine's top priorities include receiving timely financial and military aid.

Last year, we devised a plan for our production capacity and assessed the amount we could collectively manufacture in private and public domains. At that point, we were looking at a potential of $7 billion. In 2025, we have the potential to triple this amount. We estimate that the potential for defense production could reach $20 billion with additional funding. We are prepared to start joint ventures with you. We can facilitate a meeting between you and any of our executives to explore collaboration opportunities. This will give us the opportunity to increase our capabilities as well,” Rustem Umerov urged.

As the Minister of Defence emphasized, Ukraine's defense industry capabilities exceed the country's current investment capacity.

“Ukraine has already gained worldwide recognition for its courage. Still, we have also distinguished ourselves by being inventive in a challenging setting. The Ministry of Defence is ready to open joint ventures with partners. This will enable us to enhance our manufacturing capabilities greatly,” added Rustem Umerov.