The Verkhovna Rada of Ukraine (Ukrainian parliament) adopted Law of Ukraine No. 8138

Parliament of Ukraine approves amendments to the Law on State Support for Significant Investments (threshold decreased to EUR 12 mln).

The law provides, in particular:
– reduction of investment requirements from 20 to 12 mln euros
– allowed to make up to 30% of investments 18 months before the conclusion of a special investment agreement
– new investment objects have been identified, among them non-current assets and fees for connecting to heat, gas, water, and electricity networks, utilities
– new forms of state support are provided in the form of cost compensation for constructed objects of adjacent infrastructure, compensation for the cost of connecting to engineering and transport networks, and exemption from compensation for losses of forestry production
– expanded areas of project implementation, in particular, the field of electronic communications and the field of bioethanol production, which is intended for use as a fuel component
– reduced the number of jobs that should be created during the implementation of the investment project

The above amendments will come into force after Law 8138 is signed by the President of Ukraine.

The government’s draft law is based on proposals developed by the UkraineInvest team and the Ministry of Economy of Ukraine in consultation with leading business associations and potential investors. Thanks to the proposed changes, more companies will be able to take advantage of state support for investors.

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