Industrial parks can apply for government funding from July 23

Starting from July 23, 2024, industrial parks can submit applications to obtain funding from the state for development purposes.

The relevant statement was made by the Ukrainian Economy Ministry, an Ukrinform correspondent reports.

In particular, the ministry signed a cooperation agreement with Ukreximbank JSC under the program ‘State Stimulation of the Creation of Industrial Parks’.

The initiators of the creation of industrial parks and management companies can submit applications to obtain government incentives in two areas.

Firstly, they can apply for non-refundable financing to arrange industrial parks and build the necessary engineering and transport infrastructure, including roads, communication, gas, water and power supply lines.

Secondly, entrepreneurs and investors will be able to receive compensation for the cost of installing and connecting to engineering and transport networks.

“Industrial parks are an important component of the ‘Made in Ukraine’ policy, as they promote the attraction of investments in the real sector, the development of production, and the increased share of processing in the economy. It is an opportunity to attract USD 3-5 million in investment and create 50-100 jobs per hectare [of ​​the industrial park – Ed.] while generating USD 7-10 million in annual revenues per hectare,” Ukrainian Deputy Prime Minister, Economy Minister Yuliia Svyrydenko noted.

In the near future, the ministry will sign similar agreements with two more state-owned banks.

A reminder that, on July 18, 2024, the Cabinet of Ministers of Ukraine added a new entity, Green Industrial Park, which is situated in the Kyiv region, to the corresponding register. Now, the Register of Industrial Parks includes 86 entities.

A total of UAH 1 billion was provided in Ukraine’s state budget for 2024 to implement the industrial parks’ development program.