Broadens the application of state support to a wider spectrum of investors
17 Sep 2023
On 9 August 2023, the Parliament of Ukraine amended Law No. 1116-IX ,“On State Support for Investment Projects with Significant Investments in Ukraine”, expanding benefits for a broader range of investors to enhance the investment climate. The revised criteria for project support include a reduced minimum investment of 12 million Euro (from the previous 20 million Euro), a maximum 5-year implementation period, state support capped at 30 per cent of the total investment, and the creation of a minimum of 50 new jobs with above-average salaries. Notably, investors can now enter into an Agreement for a current project if they have already invested, up to 30 per cent of the total planned investment amount. The eligible sectors for investment projects have expanded to encompass electronic communications and the production of biogas and biomethane (including liquefied or compressed forms).
The State provides support both to Ukrainian and foreign investors through tax benefits, exemption from import duties, land use rights, infrastructure construction, and reimbursement of costs associated with connecting and integrating the necessary engineering and transportation facilities for the execution of the investment project.
The revised law entered into force on 17 September 2023.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Manufacturing (Other manufacturing)
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Services (Telecommunications)
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