In Sevastopol, the procedure for providing incentives for investment projects has been adopted

CrimeaPRESS reports:

The Government of Sevastopol, during a meeting chaired by Governor Mikhail Razvozhaev, approved the procedure for encouraging investment projects. Thus, subsidies will be provided to reimburse the costs incurred as part of the implementation of an investment project in respect of which an agreement has been concluded to protect and encourage investment.

Before launching an investment project, each investor would like to know what measures of state support, including tax incentives, he can apply for. This support mechanism will allow investors to improve the result of the investment project implementation— the press service of the Government of Sevastopol quotes the director of the department of economic development Denis Profatilov.

The investor will be able to reimburse the costs of creating infrastructure, paying interest on loans, paying coupon income on bonded loans, as well as dismantling residential facilities of military camps. However, the amount of reimbursable costs in the amount of 50-100% cannot exceed the amount of mandatory payments calculated by the investor to the budget of state organizations.

The adoption of this procedure will allow the formation of an appropriate legal framework in the field of protection and promotion of investment in the region.

Recall that an investment protection and promotion agreement is an agreement concluded between an investor and a public legal entity. Under such an agreement, the Government of Sevastopol undertakes not to apply laws that may worsen the implementation of the investment project.

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