The Cabinet of Ministers of Ukraine has supported the resolution on reducing regulatory and legal pressure on applicants developing investment projects with significant investments as well as on investors.
These are projects with a financing amount of EUR 20 million and a duration of implementation of up to 5 years, which are implemented with the support of so-called “investment nannies” and cover the areas of processing industry, extraction of minerals for further enrichment, waste management, transport, logistics, education, health care, etc.
The document provides for:
- Simplifying the development of a feasibility study of the investment project. The approach to reflecting the legal, social and organizational aspects of project implementation is changing. This will allow to reduce the burden on initiators and accelerate the receipt of funding.
- Initiation of investment projects through collective investment institutions. Collective investment institutions can now be applicants developing such investment projects. This form of financing involves the redistribution of investors’ investments by specialized funds. This format is attractive for entrepreneurs because it allows them to profitably direct their financial flows.
- Accelerating the consideration of projects financed by international financial institutions. Provided that the loan agreement has already been signed, the investment project evaluation period is 45 days.
The “investment nannies” mechanism is very important for the recovery of Ukraine. Investors can finance infrastructure projects such as the construction of factories, terminals, new educational facilities, recreational areas, etc. on favourable terms.
The state provides support for large-scale projects in the form of exemption from payment of certain taxes and fees, taxation of new equipment with import duty, and also provides investors with land plots and necessary infrastructure.