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«Investnanny» is a proper tool to motivate investors

12/ 02/ 2021
  This week, President of Ukraine Volodymyr Zelensky signed the Law On State Support of Investment Projects with Significant Investments in Ukraine, so-called the law on investnannys. The business community welcomes this initiative as an appropriate tool to support Ukrainian and foreign investors. After all, to win the competition for an investor, Ukraine needs to focus not only on structural reforms (although, they are surely essential for the country’s economic development) but also on specific incentive packages for domestic and foreign investors. It is worth noting that similar investment incentives from the state already operate in many countries, including European ones. This is the first time this tool has been launched in Ukraine, so, naturally, some questions arise, namely regarding those investment projects that are to be launched this year. At the same time, the mechanism of the Law itself must be inscribed in bylaws, and their development and adoption require at least six months. Therefore, we at the European Business Association hope that shortly a mechanism for regulating these issues will be developed and adopted, and a quality tool for investor support will work in the country.

This week, President of Ukraine Volodymyr Zelensky signed the Law “On State Support of Investment Projects with Significant Investments in Ukraine”, so-called the law on “investnannys”.

The business community welcomes this initiative as an appropriate tool to support Ukrainian and foreign investors. After all, to win the competition for an investor, Ukraine needs to focus not only on structural reforms (although, they are surely essential for the country’s economic development) but also on specific incentive packages for domestic and foreign investors.

It is worth noting that similar investment incentives from the state already operate in many countries, including European ones. This is the first time this tool has been launched in Ukraine, so, naturally, some questions arise, namely regarding those investment projects that are to be launched this year. At the same time, the mechanism of the Law itself must be inscribed in bylaws, and their development and adoption require at least six months.

Therefore, we at the European Business Association hope that shortly a mechanism for regulating these issues will be developed and adopted, and a quality tool for investor support will work in the country.

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