Zelensky enacts legislation on state support for large investment projects.

Photo from president.gov.ua

Photo from president.gov.ua

President Volodymyr Zelensky has signed law No. 1116-IX on state support of investment projects with significant investments in Ukraine, which the Verkhovna Rada adopted on December 17, 2020.

The document will contribute to the resumption of investment activity in Ukraine after the crisis of 2020, the presidential press service said.

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The law stipulates the provision of state support to Ukrainian and foreign investors with a total investment of starting EUR 20 million.

In particular, the possibility of obtaining tax benefits, providing investment projects with objects of related infrastructure, granting the preemptive right to land use of land plots of state or municipal property for the implementation of investment projects, securing investor guarantees by concluding a direct agreement with the government of Ukraine was determined. At the same time, the total amount of state support should not exceed 30% of the investment in the project.

According to the document, support will be provided to enterprises operating in the processing industry, transport industry, education, scientific, research and engineering; healthcare, arts, culture, sports, tourism, and health resort areas.

It also envisaged the creation of a special government authorized agency that will be involved in supporting investment projects, helping investors from the beginning of the project and throughout its duration.

Author: UNIAN

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