The Ukrainian government gives its support to a €140M investment project for the construction of an all-season mountain resort in the Lviv region.

On Thursday June 12, two special investment agreements were executed between the Cabinet of Ministers, the Slavske Village Council (Lviv region), and investors – the Slavsky and Rozhanka Park companies. These companies will implement the investment project, totaling €140M, in collaboration with the Slavske Village Council beginning in the fall of 2024. This venture involves building the GORO Mountain Resort.

In partnership with local authorities, the companies will establish new tourist infrastructure in the Carpathians, and the project is expected to generate approximately ₴7.3B in revenue over 15 years. The essence of the state program supporting projects with significant investment lies in providing compensation of up to 30% of capital investment for projects worth €12M or more through various mechanisms. In particular, the Ukrainian governement offers:

1. exemption from income tax (for up to 5 years)
2. exemption from import duty and import VAT on new equipment
3. compensation for the costs of engineering infrastructure (electricity networks, substations, gas pipelines, etc.)
4. preferential rights to use the land plot