Ukraine Creates Defence Industries Alliance and Defence Fund

President Volodymyr Zelensky announced the creation of the Defence Industries Alliance and the establishment of a special Defence Fund. Zelensky said this in his speech at the First International Defence Industries Forum in Kyiv.

“Today, at this forum, we are announcing the creation of the Defence Industries Alliance, an alliance that values international law and is capable of working for the real protection of international law. Protection of security – I’m talking not only about Ukraine, but also about the security of any nation in the world from aggression. We have drawn up a corresponding basic declaration as the foundation of this alliance, and manufacturers of weapons and military equipment from all over the world who share our intention to provide real protection from aggression in this high-risk environment of our time can join it. Today, at its inception, 13 prominent companies have already signed this declaration, showing their readiness to build a new arsenal of the free world alongside Ukraine,” the Head of State said.

He also announced that Ukraine was developing a special economic regime for the defence-industrial complex.

In addition, Zelensky announced that a special Defence Fund would be established in Ukraine to provide additional resources, including the development of military production and support for relevant collaborations, and the creation of new military facilities and programmes needed to ensure defence and take care of our warriors.

“The Fund’s resources will be an addition to the state’s expenditures on defence, defence production, and private investments. The fund will be replenished through dividends from state-owned defence assets and profits from the sale of confiscated Russian assets,” the President said.

According to him, 252 defence companies from more than 30 world countries that manufacture a full range of weapons and defence systems and solutions are represented at the Defence Industries Forum in Kyiv.

As the Ministry of Foreign Affairs of Ukraine reported, by the time the Forum closed, 38 companies from 19 countries had joined the Defence Industries Alliance. Ukrainian manufacturers signed 20 documents with foreign partners within the framework of the International Defence Industries Forum. These are agreements and memoranda on the manufacture of drones, repair and production of armoured vehicles, and ammunition. Cooperation formats include joint production, exchange of technologies, supply of components.

Bohdan Marusyak