Rada endorsed the draft law on “investment nurse”: what does it mean

The government wants to help businesses to invest in Ukraine on favorable terms

The Verkhovna Rada at today’s extraordinary meeting was approved the first reading of bill President Vladimir Zelensky No. 3760 of “investment nanny”.

For state support to investment projects with a considerable investment voted 244 deputies, the press service of BP.

The bill proposes to define a new kind of investor an investor with substantial investments and an investment project with significant investment. Such investors want to provide a number of benefits and to consolidate the status of public institution, which would include investment managers, and which authorizes the Cabinet of Ministers of Ukraine for the support of these investors in the process of preparation and implementation of investment projects.

It is also stipulated that state support may be provided to the investor in the form of tax incentives: exemption from payment of tax on profit tax and duties when importing to the customs territory of Ukraine of the new equipment, granting the right to use the land for implementation of investment project with the payment of rent according to special conditions, provision of related infrastructure (roads, communication lines, means of heat, gas, water and electricity, utilities, etc.) through the construction/renovation of such infrastructure by the state.

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The total volume of state support should not exceed 30% of the total investment in the project.

At the same time, the state determines the requirements for the investors to receive state support, namely:

  • the size of the investment in the project shall be not less than the equivalent of 30 million euros;
  • the project is implemented in Ukraine in the fields of processing industry, infrastructure and logistics, waste management, tourism, healthcare, education, sports (the exceptions are the renewable energy, mining, crop and financial sector);
  • in the process of implementation of the project must create at least 150 jobs with an average salary of workers is not less than 15% above the average wage in the relevant sector in the region in the preceding calendar year;
  • the project implementation period shall not exceed 5 years.

The bill involves the introduction into our country of an investment agreement between investors and the government in the implementation of the project with significant investment.

We will remind, earlier the government has explained how they will help the business. However, foreigners are wary about the idea of the Ukrainian government. News “Today” to find out what does business think about the “nannies” of the Cabinet.