Parliament allows aviation industry creating JV with foreign partners

241 MPs voted for the relevant draft law on amendments to certain legislative acts of Ukraine regarding the establishment of conditions for international cooperation between aircraft entities and development of the national aircraft industry. According to the law, the founders and/or members of such joint ventures can be foreign business entities, except for those located or operating in the territory of the state recognized an aggressor or occupant state and/or with respect to which sanctions are applied. The act also provides for the extension until 2025 of state financial support to the system of sales of domestic aircraft through the mechanism of cheaper loans (partial compensation of interest rates). It is expected the adoption of the law will allow up to 2020 to bring about UAH 5-10 billion of investment in the industry and increase sales by 20-25%.