Economy Ministry assesses first project with significant investments within Made in Ukraine platform – Svyrydenko
The first project with significant investments has been assessed and received a conclusion from the Ministry of Economy on its feasibility within the framework of the Made in Ukraine economic policy program, First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko said on Facebook on Tuesday.
It is noted that a special investment agreement is already being prepared for this project, and the Ministry of Economy will soon begin the procedure for its approval.
“Two more projects are at the second stage of consideration. Five more projects are preparing a package of documents for submission to the Ministry of Economy,” Svyrydenko emphasized.
According to the minister of economy, in April the procedure for using funds to support projects with significant investments within the framework of the Made in Ukraine program was approved. It can be used by investors who plan to implement a project in Ukraine worth EUR12 million or more.
They can receive a number of incentives from the state, for example the opportunity to import equipment without import VAT, not pay income tax for five years, the opportunity to receive compensation of up to 30% of capital investments and for the construction of engineering and transport infrastructure facilities and connection to networks.
“I’ll explain how this will work in practice using a specific story. Let's say a Ukrainian or foreign entrepreneur wants to build a factory. He will be able to receive reimbursement from the state for the cost of connecting to networks, for example, to railways, and to compensate for the costs of built substations, power lines, gas pipelines and other engineering and transport infrastructure facilities,” Svyrydenko clarified
She emphasized that in order to receive these incentives, the investor enters into a special investment agreement with the Cabinet of Ministers. Project support will be provided by Ukraine Invest. The program is administered by the Ministry of Economy.
The first deputy prime minister added that a total of UAH 3 billion was included in the budget this year to support projects with significant investments.
