PM Shmyhal: Industrial parks may attract over $2.5B in investment to Ukraine

"This week, the necessary documents were sealed, including the procedures for including in and maintaining the register of industrial parks. The inclusion procedure will be swift and business-oriented. In the next three years, the state will help build infrastructure for 25 industrial parks," Prime Minister Denys Shmyhal posted on Facebook, summing up the economic results of the previous week.

According to government experts and independent analysts, due to the development of industrial parks, Ukraine may receive from $2.5 billion in additional investments, the PM added. "Industrial parks have become effective growth points for the economies of Poland, the Czech Republic, Turkey, and South Korea, and we plan to use the best practices of these countries to make them work in Ukraine," Shmyhal noted.

On January 19, the Cabinet of Ministers approved the procedure for reviewing documents on the inclusion of an industrial park in the relevant register.

In October 2021, President of Ukraine Volodymyr Zelensky signed a law amending the Law of Ukraine "On Industrial Parks". The document introduces financial, infrastructural, and institutional incentives for investors in industrial parks.

As of December, 52 industrial parks were registered in Ukraine, of which only 10 function.

In 2022, UAH 400 million is budgeted to co-finance the construction of infrastructure for industrial parks.

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