The Department of Defense has invested up to $4 billion in local defense production and is working hard to secure long-term deals.
Ukraine is committed to the production of missiles and drones. By the end of this year or next year, a major missile program will be announced. Defense Minister Rustem Umerov said this at the second International Forum of Defense Industries (DFNC2), Ukrinform reported on Wednesday, October 2.
“We’ve been focusing lately on the missile and drone programs. You will hear a lot about the big missile program next year or before the end of this year. We have started working on ballistic missiles,” he said.
According to Umerov, last year the Ministry of Defense invested up to $4 billion in local defense production and is working on concluding long-term agreements.
“We have reached 2-5-year agreements and hope to conclude a 10-year agreement. We are looking for ways to simplify the system, trying to simplify procedures. I just met with the budget committee (of the Verkhovna Rada – ed. ), where I asked for their support for next year’s budget, we will invest more in our defense sector,” the minister assured.
Umerov noted that long-term investments and agreements are necessary to support production after the war, which will also work for export.
The agency wrote that the current Defense Industries Forum was attended by more than 280 companies from 32 countries and organizations. In total there were more than 700 visitors and seven agreements of various kinds were signed.
The previous day, President Vladimir Zelensky said that Ukraine is now producing weapons that did not exist before. We are talking about 155-caliber artillery shells and long-range drones.
Also, according to the head of state, Ukraine has created a new ballistic missile. It has passed flight tests.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.