For the first time, the Ukrainian government will allocate a financial stimulus of 1 billion UAH for the development of industrial parks in the next year. This was announced by Ukraine's Vice Prime Minister and Minister of Economy, Yulia Sviridenko.
"In the budget project for the next year, we have allocated 1 billion UAH for the development of industrial parks. This will contribute to the economic development of the regions," she stated.
Sviridenko believes that the development of industrial parks will create new jobs, generate tax revenues, and strengthen the growth of the processing industry, which she sees as a new economic philosophy for Ukraine. It will also provide solutions for relocated enterprises and new businesses to meet the needs of import substitution and renewal, particularly in the face of disruptions in trade with Russia and Belarus.
During her working trip, Sviridenko visited an industrial park in Bila Tserkva, where 9 residents operate, including 4 manufacturing and 2 warehouse companies, some of which relocated to the Kyiv region due to the conflict in the east.
Recently, the government granted local self-government authorities the authority to finance the design and construction of infrastructure for industrial parks benefiting from fiscal incentives for residents, which include:
- Exemption from import duties and VAT on equipment.
- Exemption from corporate income tax for 10 years, provided that reinvestment occurs.
- Preferential rates for property and land taxes as determined by local self-government authorities.
Additionally, the Minister visited one of Ukraine's biotechnology companies that specializes in producing pharmaceuticals from blood plasma. Konstantin Efimenko, the plant's director, mentioned that the company plans to expand into new markets and enhance its capabilities by attracting startups in the biotechnology sector.
