In Kyiv, investors were extended the terms of their contractual obligations due to the large-scale Russian invasion.
Until December 31, 2023, the deadlines for fulfilling obligations under investment contracts, which investors could not fulfill within the specified time due to the aggression of the Russian Federation against Ukraine, have been extended. Such a decision was made today during the meeting of the permanent competitive commission for attracting investors, the Department of Economy and Investments reported.
It is about 26 investment contracts for the implementation of projects in the field of transport infrastructure, improvement, health care, arrangement of rest areas, sports and recreation.
These investors had to ensure the development of project documentation, construction, arrangement/creation of the investment object. However, due to the large-scale Russian invasion and the imposed martial law in Ukraine, many investors stopped or suspended their activities, as well as other enterprises involved in the works for the implementation of investment contracts. Due to this, some deadlines are violated.
As noted in the Department, investors whose investment contracts have expired have confirmed their readiness to fulfill their obligations after the end of martial law in relevant letters.
According to the decision of the permanent commission on attraction of investors of the Department of Economy and Investments of the KMDA, it was instructed to develop and send the relevant drafts of additional agreements to the investment contracts for processing and signing by the parties.
According to the law, contracts can be terminated with investors who do not meet the deadlines for fulfilling their obligations.