Baker McKenzie Advises Kingspan as First Foreign Investor to Secure Recommendation for State Support under Ukraine’s Significant Investment Law

Baker McKenzie has assisted Kingspan Group, a global leader in high-performance insulation and building envelope solutions, to become the first foreign investor to successfully secure a recommendation from Ukraine's Ministry of Economy, Environment, and Agriculture to receive state support under the nation's Law "On State Support for Investment Projects with Significant Investments".

Guided by Baker McKenzie's Kyiv lawyers, Kingspan submitted a comprehensive application to the relevant Ministry of Economy and obtained a relevant feasibility conclusion. This milestone marks a historic first: a foreign-owned company being recommended for state-supported benefits under this landmark legislative framework.

Kingspan's planned investment builds on its earlier announcement of more than €280 million construction technology campus near Lviv, as highlighted in Baker McKenzie's April 2025 press release. The project will feature advanced insulation manufacturing, district heating solutions, and renewable energy integration, reinforcing Kingspan's commitment to sustainable development and positioning the campus as a cornerstone of Ukraine's reconstruction and energy efficiency initiatives.

Baker McKenzie provided strategic legal advice throughout the process, advising Kingspan on aligning the project with Ukraine's legal and regulatory requirements, compiling the relevant application and securing the necessary endorsement to qualify for state support. The work was led by Baker McKenzie Ukraine's Real Estate Senior Associate Elmaz Abkhairova under the guidance of Partner Lina Nemchenko, with key input from Associate Andrii Levchenko.

Commenting on the achievement, Kingspan's Project Director Mike Stenson said:

"As the first foreign investor to secure state support under this law, we are setting a precedent for international investment in Ukraine. Baker McKenzie's guidance was key to making this possible."

Lina Nemchenko, Real Estate Partner at Baker McKenzie Ukraine, added:

"We are proud to have supported Kingspan in becoming the first foreign investor to obtain this key recommendation from the Ministry. This achievement demonstrates the firm's commitment to Ukraine's economic revival, and underscores the positive impact of strategic state support mechanisms under the Significant Investment Law."

Learn more about significant investment projects law in Ukraine in our detailed infographics.