12:08 17.12.2020

Rada passes bill on 'investment nannies' for projects valued at EUR 20 mln, UkraineInvest can become responsible

2 min read
Rada passes bill on 'investment nannies' for projects valued at EUR 20 mln, UkraineInvest can become responsible

The Verkhovna Rada has supported bill No. 3760 on government support for investment projects with significant investments (the so-called "investment bill") valued at EUR 20 million, which, in particular, provides for the exemption of such projects from paying certain taxes.

An Interfax-Ukraine correspondent has reported that the bill was supported by 252 MPs with the required 226 votes.

According to the materials on the parliamentary website, in the version of the document for the second reading, the equivalent of the amount of "significant investments" has been reduced from EUR 30 million to EUR 20 million. Also, for the second reading, the committee proposed to expand the list of areas for projects that can be qualified for government support.

After the signing of the law by the president, it is planned that the Cabinet of Ministers will appoint the government office of UkraineInvest responsible for attracting and supporting investments in accordance with the law.

As the agency was told in UkraineInvest, the new mechanism of cooperation with Ukrainian and foreign companies will significantly increase the volume of investments in Ukraine.

In accordance with the documents on the parliament's website, it concerns investment projects in processing (except for alcohol and tobacco), mining and processing (except for coal, oil and natural gas), waste management, transport, warehousing, postal and courier activities, logistics. Large projects in education, scientific and technical activities, health care, art, culture, sports, tourism and resort and recreational areas can also receive benefits.

MP Nina Yuzhanina emphasized during the discussion of the bill that one of the amendments supported by the specialized committee additionally establishes in the "transitional provisions" the possibility of providing state support to investors in the field of iron ore dressing.

Projects that create at least 80 jobs with a salary 15% higher than the average salary in the region can count on state support. By the second repeated reading, the deputies clarified the term for a special investment agreement - this is an agreement concluded between the Cabinet of Ministers, an investor with significant investments, an applicant and a local government body (if they are provided with state support).

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