Ukraine to create 5 JVs in defense industry with Western manufacturers in 2024, launch 5 industrial parks

Ukraine to create 5 JVs in defense industry with Western manufacturers in 2024, launch 5 industrial parks

Ukraine in 2024 focuses on the development of the defense-industrial complex and sets the task of creating joint defense enterprises with Western companies and localizing production of weapons, ...

 Ukraine in 2024 focuses on the development of the defense-industrial complex and sets the task of creating joint defense enterprises with Western companies and localizing production of weapons, demining and other equipment, First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko has said.

"If we say defense industry, there are specific goals and objectives: this is the creation of five joint ventures with Western arms manufacturers," she said at a webinar by the Centre for Economic Strategy on Thursday.

According to her, it is also planned to develop industrial parks; for this purpose, funds have been included in the budget for the first time to reimburse the cost of connecting both existing and new industrial parks.

Svyrydenko pointed out that last year the number of industrial parks in the register reached 70, but "in fact, there are ten operating ones."

"Our task is this year to focus on creating at least five, but working, innovation parks," the First Deputy Prime Minister said.

In general, according to her estimates, the UAH 40 billion allocated in the 2024 state budget to support the economy will provide a contribution to its growth at the level of up to 1% of GDP, while in 2023 the total effect of the state program of affordable lending 5-7-9, grants and mortgage programs provided an additional 1.5% of GDP.

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