Government changes rules for projects with significant investments

Investors will be able to start earlier: the government allowed to invest funds before submitting an application for state supportThe Cabinet of Ministers of Ukraine has adopted a decision that allows investors to start implementing their projects earlier - even before submitting an application for state support. Previously, such a step was possible only after a standard 18-month wait. This was reported by the Ministry of Economy of Ukraine, agronews.ua reports.Although the costs incurred before submitting an application will not be taken into account in the total amount of “significant investments”, as defined by law, the innovation opens up additional opportunities for those who are ready to act without delay.

“This is an example of how cooperation between the state and business can create real prerequisites for economic growth and financial independence. To achieve this, we must develop production, attract investments in the real sector and support the export of products with high added value,” commented Vitaliy Kindrativ, Deputy Minister of Economy of Ukraine.The state supports large investment projects within the framework of the “Made in Ukraine” initiative. If a business invests from 12 million euros, it can claim compensation for up to 30% of capital investment costs.Projects can be implemented for up to 5 years, and among the priority areas are the processing industry, logistics, mining, medicine, education, culture, tourism, sports, IT and other sectors of the economy.

 

Source: https://agronews.ua/news/uryad-zminyv-pravyla-dlya-proyektiv-iz-znachnymy-investycziyamy/