The Government has approved amendments to the Procedure for the Import and Targeted Use of New Equipment and Components by Investors with Significant Investments for their own needs during the implementation of investment projects. The new rules aim to remove barriers for businesses and make participation in the state support programme more convenient.
Specifically, the approved changes extend the deadline for investors to submit the list and volume of equipment from 5 days to 12 months after receiving the project feasibility approval. This allows investors to finalise the technological process configuration, conduct tender procedures, and select equipment suppliers without artificial time constraints.
The document also eliminates the requirement to specify the country of origin for goods. Equipment is often produced by multinational companies using subcontractors from various countries, and the previous requirement to indicate the country of origin created additional complexities during customs clearance and necessitated amendments to investment contracts if the manufacturer changed.
Additionally, the issue of discrepancies between estimated and customs values of equipment has been addressed. Prices will now be indicated in the currency of the supply contract, with the total amount in Ukrainian hryvnia. This will prevent discrepancies due to exchange rate fluctuations and simplify the implementation of investment projects.
Government support for investors includes:
– More flexible deadlines for finalising the equipment list;
– Removal of barriers related to the origin of goods;
– Alignment of price indicators with actual contract values.
The key conditions for participating in the support programme for projects with significant investments remain:
– Investments exceeding EUR 12 million and the creation of at least 10 jobs;
– Implementation of projects in sectors ranging from manufacturing and transport to healthcare, education, and tourism;
– Project implementation period of up to 5 years.
“These changes align state procedures with real business processes, making them more predictable and convenient for investors. This is another step towards creating modern state support mechanisms that attract significant investments to the Ukrainian economy, even in challenging times,” said Vitaliy Kindrativ, Deputy Minister of Economy, Environment and Agriculture of Ukraine.
The support programme for projects with significant investments operates based on legislative amendments adopted in 2023 and Cabinet of Ministers Resolution No. 860 dated August 11, 2021. These changes will facilitate ongoing projects and create conditions for further investment growth in Ukraine. (Government portal)