Today, on February 10, 2021, the President of Ukraine signed the Law “On State Assistance to Investment Projects with the Significant Investments in Ukraine”.
The Law is aimed to increase state support for large investment projects exceeding EUR 20 million and lure international business to the country.
The law will offer tax benefits to big investors and provide them with so-called “investment nannies,” managers who will help them communicate with state officials, provide advice and generally help them navigate Ukrainian bureaucracy.
The law will focus on the following sectors:
- processing industry (with some exceptions);
- extraction for further processing and/or enrichment of minerals (with some exceptions);
- waste management;
- logistics, postal and courier activities,
- education, scientific and technical activities;
- arts and culture
- sports, tourism, resort and recreation.
Investors will also be able to have money allocated from state or municipal budgets to build the infrastructure needed for an investment project, including highways, communication lines, heat, gas, water and electricity supply facilities, and utilities. The total amount of state support won’t exceed 30% of the investment in a project.