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The first contract on support of a project with significant investment to be signed within a month

15/ 11/ 2021
  Today, the European Business Association met with Serhii Tsivkach, Executive Director UkraineInvest. Thus, we talked about the details and peculiarities of state support for projects with significant investments. To be eligible for the support, the project must imply construction, modernization, technical and/or technological re-equipment of investment objects, purchase of necessary equipment and components for it. Besides, it must create at least 80 jobs, have an investment of at least 20 million euros with an implementation period of no more than 5 years. The project may be in the processing industry, transport, logistics, education, etc. At the same time, it is required to establish a new legal entity for the application process. Thus, a foreign investor must register a legal entity in Ukraine to apply for state support. UkraineInvest has already received 27 applications for this support programme. Serhii Tsivkach noted that 10 applications are already in the final stage, their readiness is 80%. These are the projects in the processing industry, agriculture, science. When fully ready, they will be submitted to the Ministry of Economy, which will check their compliance with the requirements. The consideration takes up to 60 days. The Ministry may provide an opinion on the feasibility/inexpediency / or the need to finalize the project. If the conclusion is positive, the next step is to conclude a special investment agreement. The first contract with the investor is expected to be signed within a month. Detailed project requirements, submission procedures, legal norms, and necessary steps can be found in the presentation at the link. It is also worth noting that out of 27 applications, 17 were submitted by Ukrainian and 10 by international investors. The total investment amounts to $ 2 billion with approximately equal distribution between 2 types of investors. On behalf of the European Business Association, we truly thank Mr. Tsivkach for the substantive and practical meeting and look forward to seeing the first agreed support projects soon.   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.

Today, the European Business Association met with Serhii Tsivkach, Executive Director UkraineInvest. Thus, we talked about the details and peculiarities of state support for projects with significant investments.

To be eligible for the support, the project must imply construction, modernization, technical and/or technological re-equipment of investment objects, purchase of necessary equipment and components for it. Besides, it must create at least 80 jobs, have an investment of at least 20 million euros with an implementation period of no more than 5 years. The project may be in the processing industry, transport, logistics, education, etc. At the same time, it is required to establish a new legal entity for the application process. Thus, a foreign investor must register a legal entity in Ukraine to apply for state support.

UkraineInvest has already received 27 applications for this support programme. Serhii Tsivkach noted that 10 applications are already in the final stage, their readiness is 80%. These are the projects in the processing industry, agriculture, science. When fully ready, they will be submitted to the Ministry of Economy, which will check their compliance with the requirements. The consideration takes up to 60 days. The Ministry may provide an opinion on the feasibility/inexpediency / or the need to finalize the project. If the conclusion is positive, the next step is to conclude a special investment agreement. The first contract with the investor is expected to be signed within a month.

Detailed project requirements, submission procedures, legal norms, and necessary steps can be found in the presentation at the link.

It is also worth noting that out of 27 applications, 17 were submitted by Ukrainian and 10 by international investors. The total investment amounts to $ 2 billion with approximately equal distribution between 2 types of investors.

On behalf of the European Business Association, we truly thank Mr. Tsivkach for the substantive and practical meeting and look forward to seeing the first agreed support projects soon.

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

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