Ministry of Economy of Ukraine
The Government Proposes to the Verkhovna Rada to Adopt a Quick Investment Bill which Allows for the Establishment of Processing Enterprises as Quickly as Possible
29.08.2022 | 16:37The government has approved a bill on simplifying permit procedures for acquiring the right to land and starting construction during the implementation of projects aimed at economic recovery.
During martial law and during the reconstruction period, entrepreneurs implementing projects included in the List of Economic Recovery Projects get the most favourable conditions for investment.
In particular, they are as follows:
- shortening the terms of acquiring rights to a land plot – from 18 to 3 months,
- the right to a land plot will be acquired without an auction, without land management documentation, with guarantees of non-alienation of the land plot,
- the intended purpose of the land will be established and changed without observing the rules of the relationship between the type of purpose and the type of functional purpose of the territory,
- the design of the construction object can take place without observing urban planning conditions and restrictions, provided that the building regulations are met.
A restoration project will be considered a project that:
- has a value of EUR 500,000 or more;
- is aimed at any field of industry (excluding waste management and housing construction).
For its inclusion in the List of Recovery Projects, an entrepreneur should submit an application to the Ministry of Economy.
The government has approved the bill which will soon be registered in the Parliament.
“We are speeding up the reconstruction of Ukraine by attracting private investments. We create the most comfortable procedural conditions for investors to implement their investment projects,” Yuliia Svyrydenko, First Vice Prime Minister – Minister of Economy of Ukraine. commented on the Government’s decision. “Our goal after the end of hostilities is to return to the pre-war state of the economy as quickly as possible. Thus, we will have a starting point for further growth. We should rebuild the infrastructure, restore the lost and create new production facilities as soon as possible. The law on quick investment provides for such changes in the legislation so that it is possible to build industrial enterprises from the ground up in Ukraine as quickly as possible and without excessive bureaucracy. In this way, we plan to develop the processing industry as strongly as possible.”
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