Zelensky signs law on state support for Ukrainian and foreign investors

President Volodymyr Zelensky has signed a law on state support for investment projects with significant investments to resume investment activity in Ukraine, the president’s press service reports.

“President of Ukraine Volodymyr Zelensky signed the Law ‘On state support of investment projects with significant investments in Ukraine’, No.1116-IX, which was adopted by the Verkhovna Rada on December 17, 2020. This document will help resume investment activity in Ukraine after the crisis of 2020,” reads the report.

According to the Office of the President, the law provide for state support to Ukrainian and foreign investors with a total investment of EUR 20 million.

In particular, the law envisages the possibility of obtaining tax benefits, providing investment projects with related infrastructure, granting the preemptive right to use land plots of state or municipal ownership for the implementation of investment projects, securing investor guarantees through a direct agreement with the Government of Ukraine. The total amount of state support should not exceed 30% of the amount of investment in the project.

iy