Ukrainian and foreign businesses that are ready to invest more than €12 million will receive tax benefits, regulatory breaks and support at the project implementation level, Prime Minister Denis Shmyhal said during a government meeting. According to the head of the Cabinet of Ministers, one of the key tasks in the economic sphere for 2024 is to increase foreign investment in the Ukrainian economy.
The government has adopted a resolution that should improve the mechanism of state support for large investment projects.
“Ukrainian and foreign businesses that are ready to invest more than €12 million and create new jobs receive maximum support and special conditions,” the prime minister said. We are talking about tax benefits, regulatory relief and support at the level of investment project implementation.
The resolution concerns a new approach to preparing a feasibility study for an investment project. Thus, a number of provisions are removed and simplified, in particular, on the need for economic analysis, on the revision of the social assessment of projects, and the requirements for the financial ability of the applicant are weakened.
Innovations should launch more investment projects in Ukraine, which, in turn, will create more jobs and strengthen the economy.
Let us recall that at the beginning of January 2024, the government changed the rules for the import into Ukraine and the intended use of new equipment and components for it for investment projects with significant investments. This year, UAH 3 billion has been allocated in the budget to support investment projects with significant investments. Funds will be made available to investors who focus on manufacturing capacity for high value-added products.
