The Verkhovna Rada of Ukraine approves at first reading the draft law on improving the functioning of industrial parks 

The Verkhovna Rada of Ukraine has adopted at first reading the draft law No. 12117, which aims to remove excessive regulatory barriers and improve the operating conditions of industrial parks in Ukraine.  

Specifically, the draft law introduces the following provisions:  

• allowing the initiator of an industrial park to simultaneously act as the managing company within a single legal entity; 

• expanding the list of activities permitted within industrial parks, including the ability to generate electricity independently;

• broadening the range of facilities that can be located within industrial parks;  

• introducing the concept of eco-industrial parks;  

• regulating the location of non-industrial facilities within industrial parks;  

• establishes procedures for expanding or reducing the area of an industrial park;  

• defines the procedure for transferring land ownership from the initiator of an industrial park to another legal entity; 

• extends investment restrictions beyond russia to belarus and Iran;  

• improving the selection process for companies managing industrial parks.  

In addition, the draft law proposes improvements to procedural aspects related to the inclusion and exclusion of industrial parks from the register of industrial parks. This includes updating the list of documents required for registration, refining the criteria for decision-making on inclusion, specifying the cases in which registration may be refused, and revising the conceptual framework for industrial parks.

The proposed amendments are aimed at expanding the scope of industrial parks, creating more attractive conditions for investors and thereby facilitating additional investment. 

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