The Ukrainian government and the Slavske village council of the Lviv region have signed two special investment agreements with the companies “Slavski” and “Rozhanka Park” regarding the implementation of a large-scale project for the construction of the year-round GORO Mountain Resort. The total investment in this project amounts to €140 million, with work scheduled to begin in the autumn of 2024.
This is reported by Finway
GORO Mountain Resort: Development of Carpathian Tourism Infrastructure
The project envisions the creation of modern tourism infrastructure in the Carpathians in partnership with local authorities, which will significantly enhance the attractiveness of this region for vacationers year-round. The implementation of the investment project is expected to generate approximately ₴7.3 billion in revenue for various levels of government over the next 15 years, providing substantial financial support for the region.
“The essence of the state program supporting projects with significant investments lies in the possibility of compensating up to 30% of capital expenditures for projects costing from €12 million through a range of mechanisms.”
State Support and Tax Benefits for Investors
Within the framework of the state program supporting projects with significant investments, investors are given the opportunity to compensate up to 30% of the amount of capital expenditures. The program applies to projects with a minimum cost of €12 million and includes the following incentive measures:
- exemption from profit tax for up to five years;
- exemption from import duties and VAT on new equipment;
- compensation for costs related to the development of engineering infrastructure — power grids, substations, gas pipelines, etc.;
- granting preferential rights to use land for the implementation of the project.
The development of GORO Mountain Resort is expected to have a positive impact on the economy of the Lviv region, the development of tourism, and the creation of new jobs in the area.