The Law on State Support of Investment Projects with Significant Investments
The President of Ukraine signed the Law on State Support of Investment Projects with Significant Investments. The main provisions of the law are:
state support up to 30% of investment;
exemption from taxes and import duties relief;
construction of infrastructure facilities and other advantages available to investors who create at least 80 jobs per project within 5 years of its implementation.
Find the list of the target sectors of economy for the projects via the link.
Ukraine becomes second in the ranking of world grain exporters
The results were announced at the 52nd session of the International Grains Council.
The numbers were counted in terms of total exports in the past 2019/2020 agricultural year. “Ukraine has the potential to further increase the production and export of grain”, the Deputy Minister of Development of Economy, Trade and Agriculture, Trade Representative of Ukraine Taras Kachka said.In the current agri-year (2020/2021), the export of grain from Ukraine is forecasted to be 45.81 million tonnes with a harvest of 64.21 million tonnes.
NBU raises the limit on investments abroad to €200k per year
The National Bank of Ukraine (NBU) has announced that it is increasing the annual limit for investments by Ukrainian citizens to €200,000. This limit applies to the following transactions:
– investments abroad;
– depositing of funds in accounts abroad;
– transfer of funds under a life insurance contract;
– granting loans to non-residents.
Previously, this limit was €100,000.
The meeting of the Association Council, Ukraine and the EU
The Association Council, Ukraine and the EU reaffirmed their commitment to strengthening Ukraine’s political association and economic integration with the EU. The key agreements following the meeting of the Association Council include energy sector, trade liberalization, green course, digital sphere.
“Ukraine will participate in the processes of formation and implementation of the Green Deal, and areas of common interest are energy efficiency, hydrogen, the transformation of coal regions, industrial alliances and development of climate architecture. The economy of the European continent is changing, so we will join forces with the EU for mutually beneficial cooperation,” stressed the Deputy Prime Minister.
Ukraine has joined the Committee on World Food Security
The Committee discusses food security and nutrition issues at the global level.
“Ukraine operates in the world food market transparently and predictably and can join the formation and storage of world food stocks. It should be noted that Ukraine did not impose restrictions on exports of basic products during the COVID-19 pandemic and emphasizes the need to simplify international trade procedures and prevent the creation of new trade barriers,” said Deputy Minister Taras Kachka.
The Committee develops guidelines and recommendations that can guide countries in their work on food security and nutrition.
Key priorities of Ukraine for European business
The Prime Minister accentuated that the main strategy of Ukraine is to attract business investment. To this end, the Government, together with MPs of Ukraine, experts and analysts is working to develop the National Economic Strategy until 2030.
The key priorities for the Strategy are European and Euro-Atlantic integration, economic freedom, rule of law, protection of private property, gender equality and absolute intolerance of corruption.