Investments for more than $2 billion are on the table right now.
Ukraine is working on several different projects to attract foreign investors, and one is the so-called investment nanny. Everyone investing more than 20 million euros and creating more than 80 workplaces is entitled to a “nanny” and tax benefits, and the program is starting to attract interests from abroad.
Epravda writes that Ukraineinvest has received 27 project applications so far from investors for a total of more than $2 billion. Ten of them are foreign investors.
“We cannot disclose the amount of investment and the names of specific companies at this time, as all our negotiations with investors are regulated by the NDA, and we must adhere to non-disclosure of confidential information,” said UkraineInvest.
“For other projects, UkraineInvest is working on a daily basis to finalize the feasibility study and prepare other necessary documents; in addition, there is active communication with relevant government agencies in order to speed up the application process,” said UkraineneInvest to Epravda.
Many European companies
UkraineInvest, however, reveals that the potential foreign investors come from countries such as Switzerland, Mexico, China, Turkey, Cyprus, Poland, and Ireland. They are spread across areas such as production, agricultural processing, logistics, transport, tourism, aviation industry, and railroad production.
The law, often called the law on Investment Nannies, was passed earlier this year after being postponed due to the pandemic. As earlier stated, it provides companies investing more than 20 million euros and creating more than 80 workplaces with tax benefits and administrative help to navigate in Ukraine.
UkraineInvest recently published a guide to help potential investors. Ukrainian President Volodymyr Zelensky said back in 2020 that the law is fundamental.
“We have now drafted a new program called Investment nanny. What is it about? We will provide each investor, each large company… with a separate contract with the state. It is the state that will protect you. You will have a manager – investment nanny, who speaks five languages and works with you 24/7 – any question, any problem will be solved in contact with this manager, and there will be no problem,” the President said back in 2020.
“The assistance of such ‘investment nanny’ could take the form of cooperating with relevant state or local authorities on behalf of the investor, assisting with the preparation or completion of all necessary documentation for approval of the Project, information support, etc.,” writes US-Ukraine Business Council.