Ukrainian government to promote investment in agroindustrial complex

The Cabinet of Ministers of Ukraine is preparing some legislative initiatives aimed at creating tax preferences and incentives for agricultural enterprises that invest in the creation of high-tech production and high-paying jobs, the press service of the Secretariat of the cabinet said on Thursday.

According to a press release, the government, in particular, foresees the introduction of tax holidays for ten years.

According to the report, with reference to Prime Minister of Ukraine Mykola Azarov, the level of investment in agricultural enterprises remains low.

The press service noted that investment in the agroindustrial complex accounts for 8% of the total investment, while the share of agriculture in Ukraine’s GDP is 10%.

“Agricultural enterprises can and should become the leaders in job creation in Ukraine. This will benefit the entire economy,” said Azarov.

Azarov stated the need in a short time to double agricultural production in Ukraine, in particular, increase the grain yield to 80-100 million tonnes per year, and the vegetables harvest to 30-40 million tonnes.

The execution of this task requires large-scale investment in the agricultural sector, the radical modernization of the market infrastructure and the additional attraction of hundreds of thousands of specialists and workers, the report said.

by Interfax


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