The Ministry of Economy and Environment of Ukraine has extended the deadline for submitting applications for state incentives for industrial parks. In accordance with the order of the Ministry of Economy dated August 18, No. 758, applications for state incentives can be submitted to authorized banks until August 31.
State incentives for industrial parks are an important element of the “Made in Ukraine” economic development policy. This incentive is provided for the development of infrastructure and compensation for the cost of connecting to electricity networks. The amount of funding can reach up to UAH 150 million per park, with state co-financing of up to 50%, and for de-occupied and frontline territories – up to 80% of the project cost. A separate incentive mechanism is provided for parks whose engineering and transport infrastructure was damaged or destroyed as a result of hostilities.
“By extending the deadline for accepting applications, we are giving businesses additional time to prepare documents and take advantage of state incentives. Industrial parks remain one of the most effective tools for attracting investment and creating new jobs in the regions. This is a proven global mechanism that combines infrastructure readiness, investment incentives and quality management,” said Vitaliy Kindrativ, Deputy Minister of Economy and Environment of Ukraine.
In addition, local governments can additionally stimulate investors by reducing taxes on real estate and land, as well as introducing their own support programs. This creates healthy competition between communities for new production and contributes to the even development of regions.
Successful implementation of this strategy will allow Ukraine not only to restore the economy, but also to reach a new level of competitiveness, becoming a powerful player on the global industrial map. (Economy Ministry)