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The Investment Commission extended the terms for investors to fulfill their contractual obligations

Until December 31, 2023, the deadlines for fulfilling obligations under investment contracts, which could not be fulfilled by investors in 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, landscaping, health care, recreation areas, sports and recreation.

According to the concluded investment contracts, the 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 have stopped or suspended their activities, as well as other enterprises involved in works for the implementation of investment contracts. This led to the violation of some of their deadlines.

As the Department noted, 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.