According to the government’s decision, two parks in the Chernivtsi Oblast, Khotyn Invest and Bukovina Energy, will be included in the register of industrial parks. Enterprises that will operate in these parks will represent various industries, such as the light industry, food processing industry, mechanical engineering, metalworking, manufacture of building materials.

Businesses setting their premises on these industrial sites will have access to the necessary infrastructure (power, water and gas supply), logistics and workforce.

In addition, the President of Ukraine has signed two laws which envisage additional benefits for the residents of industrial parks:

• VAT and import duty relief on imported new equipment;
• profit tax relief for 10 years on operations within industrial parks;
• low real estate tax and land tax rates from the local authorities.

These conditions will stimulate establishment of new business enterprises and promote relocation of enterprises from areas affected by fighting to industrial parks.

In addition, creation of industrial parks is one of the important instruments of overcoming the shortage of jobs. Thus, one hectare of the industrial park premise can provide work for 50 Ukrainians, while one average industrial park will create nearly one thousand new jobs.