(c) shutterstock
On the first day of the sixth session, the Verkhovna Rada adopted, in the second reading, the draft Law No. 4416-1 “On Amendments to the Law of Ukraine “On Industrial Parks”, which provides for a number of investment incentives for participants in industrial parks.
290 MPs voted in favor of the draft Law No. 4416-1 at a plenary session of the Parliament.
According to the draft Law, participants in industrial parks will be eligible for reimbursement of the cost of connection to power grids and other communications in the amount of 50%, as well as reimbursement from the state budget for the share of capital investments in the amount of 15% to 70% during the first three years, depending on the volume of exports.
“With this draft Law, we introduce financial and institutional incentives, and with the other two yet to be considered, tax and customs incentives. Safeguards from abuse go with the incentives. Industrial parks are a tool for stimulating small and medium-sized businesses. A tool that produces and creates added value. This is how it works all over the world, and this is how it will work with us,” said Dmytro Kysylevskyi, Deputy Head of the Verkhovna Rada Committee on Economic Development, during his speech in the Parliament.
As reported earlier, the Parliament adopted the draft Law No. 4416-1 in the first reading back on 15 April 2021. In mid-July, the line committee amended the draft as follows:
Also, in late June, the Parliament registered two draft laws amending the Tax and Customs Codes with a view to exempting industrial parks from corporate income tax for a 10-year term.
The Cabinet of Ministers, in its turn, recently stated that it was going to build infrastructure for a network of 25 industrial parks in the next three years, with the building funded from the state budget.
Despite the challenging global economic environment, the voestalpine Group ended the 2024/25 financial year (ended…
For January-April 2025, average FOB Brazilian pig iron prices increased from $415/t to $450/t, but…
The European Steel Association EUROFER is calling on the European Commission to immediately implement the…
After almost a year of downtime, Romania's largest steel mill, LIBERTY Galați, has resumed production…
Ukrainian industrial company Interpipe is expanding its presence in the European market by supplying pipe…
Kazakhstan's Qarmet Iron and Steel Works has opened an office in Singapore as part of…