Businesses ready to invest over 12 mln euros in Ukraine, to be granted tax benefits - PM

MOSCOW. Feb 5 (Interfax) - Ukrainian and foreign businesses, which are ready to invest over 12 million euros, will receive tax benefits, regulatory relief and support for implementing projects, Ukrainian Prime Minister Denis Shmygal said.

"In fact, one of the key objectives in the economic sector for this year is to increase foreign investment in Ukraine. For this purpose, we are working with partners. For this purpose, the insurance of military risks has been launched. We are constantly improving conditions for investment projects. Today, we will adopt a decree improving the mechanism of state support for large investment projects," Ukrainian media quoted Shmygal as saying at a government meeting last Friday.

Ukrainian and foreign businesses, which are ready to invest over 12 million euros and create new jobs, will receive utmost support and special conditions, in particular, tax benefits, regulatory relief, and support for implementing projects, he said.

"Today's decree concerns a new approach to preparing a feasibility study for an investment project. We abolish and simplify a number of provisions, including the necessity of an economic analysis, the review of the social assessment of projects, as well as ease the requirements for the financial solvency of the applicant," Shmygal said.

All these decisions have one goal to launch more investment projects, which will create more jobs and reinforce communities and the economy, Shmygal said.