Interest in Ukrainian mining companies has grown rapidly in recent years. Ukraine’s own mineral and raw materials base allows the country to reduce its dependence on imports in strategic sectors of the economy, develop new competencies in innovative industries, and almost completely satisfy the needs of the national industry, as well as contribute to the development of its export potential.
Yevhenii Shakotko, Deputy Executive Director of UkraineInvest, and Stefan Khrystenko, Head of Legal Affairs and Regulatory Policy at UkraineInvest, held a workshop for mining companies on obtaining state support for the implementation of investment projects.
They spoke about state support for investment projects with significant investments, including exemption from income tax, land lease, exemption from payment of import duties on new equipment and components, and exemption from land tax.
Investors who decide to invest in the extractive industry will receive special conditions from the state in the form of compensation of up to 30% of the planned amount of investment within the project, namely: exemption from payment of VAT and customs duties on import of new equipment, provision of preferential land use rights, as well as the possibility of construction or reconstruction of communications, power and water supply facilities, etc. at the expense of the state or local budgets.
The event was attended by managers and specialists from international and Ukrainian mining companies and business associations.