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Ukraine plans to offer state guarantees to foreign investors

October 28, 2009

The 2012 European Football Championship games will definitely take place in Ukraine and Poland on a 4 by 4 basis Deputy Premier Ivan Vasiunyk told the diplomatic community in Ukraine during a meeting with heads of missions.

“Today, our main task is to prove this to both your colleagues and to the public in both countries,” Mr. Vasiunyk noted. “There is no question that Ukraine will complete its infrastructure projects for the four sites in accordance with UEFA requirements. I think it’s important to point out that, despite the crisis, our Government will guarantee and provide uninterrupted financing for the preparations for this tournament.”

The Deputy Premier urged the present ambassadors to let potential foreign investors know about the unprecedented steps being taken by Ukraine’s Government and local officials in order to encourage investment in Euro 2012 projects.

“This includes both the option of state guarantees for specific projects and simplified permit procedures,” said Mr. Vasiunyk. “If we use hotel construction as an example, procedures that used to take a year or two will now be completed in a month or two—and without bribes, which is important. Hotel construction projects will also be given tax holidays on most local taxes and on fees. Investors can also count on incentives for highway building projects.

“At this time, Ukraine largely has its norms and legislation for road-building concessions in place. Even if not all road construction projects are completed by 2012, this will not change anything,” added the Deputy Premier. “For us, this project is not intended just for 2012. We consider this just the beginning.”

Tags: investment, Euro-2012