Kharkiv:Restart forum calls to take care of reconstruction without waiting for the end of the war

We need to start rebuilding now, not wait until the war is over.

This was the slogan of the Kharkiv: Restart. UkraineInvest joined the event as a partner.

The event was aimed at attracting large investors to rebuild Kharkiv. The damage caused by the russians to the city’s infrastructure is estimated at USD 9.5 bln. According to Mayor Ihor Terekhov, only international partners, institutions, and private investors can cover such costs.

Investment projects for the city’s development were presented at the forum, including

– creation of a modern transport hub and a shopping and entertainment cultural centre on the territory of the Levada railway station; 
– the idea of reconstructing the space of the Lopanska embankment; 
– creation of the “Science Park” – an innovative mixed-use neighbourhood; 
– creation of a municipal taxi service on electric vehicles.

According to David Arakhamia, Chairman of the Supervisory Board of the UkraineInvest, three categories of investors can invest in Kharkiv. 

“The first is the state, which will play a crucial role. Kharkiv has the largest number of people’s deputies, so you have a powerful lobby in parliament. The second is private investors. Kharkiv residents are creative people and will invest in the city despite the war. And the third is foreigners, who pay a lot of attention to Kharkiv,” said David Arakhamia.

Maksym Bondarenko, Head of Investment Advisory Department at UkraineInvest, presented the investment incentives provided by the Law of Ukraine 8138, which was developed by the team of UkraineInvest and the Ministry of Economy of Ukraine. The law provides, in particular

– reducing the investment requirements from EUR 20 mln to EUR 12 mln;
– providing an opportunity to make up to 30% of investments 18 months before the conclusion of a special investment agreement;
– new forms of state support in the form of compensation for the cost of constructed adjacent infrastructure, costs of connection to engineering and transport networks and exemption from compensation for losses in forestry production;
– reduction in the number of jobs to be created in the course of the investment project implementation.

During the forum, agreements were reached on investments by International Business Machines Corporation (USA) in the development of digital technologies for the Kharkiv Smart City project. American partners are ready to provide USD 200 thousand of volunteer assistance. USD of volunteer assistance by the end of 2023. Digital applications for assessing the level of damage to buildings hit by enemy missiles will significantly speed up the process of restoring them.

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