Rapid development of Ukraine's military industry expected once war ends

Denys Shmyhal, Prime Minister of Ukraine, said that rapid development of the military industry is expected in the country once the war comes to its end.  Source: The Prime Minister said this during a speech at the Ukraine Recovery Conference in London. Quote: "We have identified five key segments that will form the basis for the recovery and transformation of our economy," Shmyhal said.

Shmyhal noted great potential in the energy sector of Ukraine, gas production and storage, as well as in hydropower. Another important sector of the Ukrainian economy is the military industry.

"European and global defence companies are increasingly considering options for building new production facilities in Ukraine. After the war, we expect a great boost in the development of this sector in Ukraine," the Prime Minister added.

Shmyhal also said that after the war, the growth of agriculture could double. He also considers infrastructure to be another promising industry branch. "IT.

We have ambitions to become a digital hub in Europe. We offer IT companies some of the most favourable tax and regulatory conditions in the world. In general, we are telling the private sector that those who invest in Ukraine today will have extraordinary opportunities and prospects in the coming years," the Head of the Cabinet added.

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