In times of war, industrial parks can become vectors of development for the Ukrainian economy

This was stated by the CEO of UkraineInvest during his speech at the New Food Summit.

Sergiy Tsivkach told the participants about the economic incentives provided by law for residents of industrial parks. Among them

– сompensation of interest on loans (credits) for the development and/or implementation of economic activities within industrial parks;
– provision of funds on a non-repayable basis for the development of industrial parks and/or the construction of related infrastructure facilities (roads, communication lines, heat, gas, water and electricity supply, engineering communications, etc.).
– reimbursement of the costs of connection and interconnection to engineering and transport networks.
– exemption from corporate income tax for 10 years, provided that it is reinvested in the development of the investment project. This exemption is applied by the supervisory authority for 10 consecutive years from the date of submission of the application by the participant in the industrial park;
– exemption from VAT on the import of new equipment (machinery) for own use;
– the possibility of applying real estate tax exemptions on the territory of industrial parks by decision of the local government;
– exemption from import duties on new equipment (machinery) imported by participants in industrial parks for their own use.

“If you have an anchor investor, you need to build a cluster economy around it. The cluster economy is the best approach to planning and building industrial parks. The development of industrial parks is an important factor in regional economic development, as the average industrial park employs more than 1,000 people. This is an important factor for the return of Ukrainians from abroad in times of war,” said Sergiy Tsivkach.

Participants in the panel discussion “Industrial Parks in Ukraine: How to Ensure Development and Growth” also discussed the legislation and principles of creating modern industrial parks, as well as the conditions for transition to a modern industrial infrastructure.

The New Food Summit is a conference and exhibition for representatives of the food and processing industries. The event brought together strategists, visionaries and innovators who think big, act proactively and have global ambitions. 

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