Ukraine has two new industrial parks: Sokyryany Industrial Hub in Sokyryany, Chernivtsi region, and KYT in Bucha, Kyiv region. The decision was approved at a Government session on 16 August.

‘Both industrial parks will create about 1,350 jobs in the industrial sector. The Government's priority is to move away from raw material production to deep processing, in particular, the development of industrial production of goods with a focus on high value-added products. Ukraine now has 90 registered industrial parks in almost all regions of Ukraine. Such initiatives help businesses attract investment and develop Ukrainian production, which is also part of the Made in Ukraine policy,’ said Vitalii Kindrativ, Deputy Minister of Economy of Ukraine.

Sokyryany Industrial Hub will produce building materials, construction metal structures and products, electrical equipment and other technical products. The KYT Industrial Park will also specialise in the processing industry, producing plastic construction products, metal doors and windows, etc.

Park initiators can attract both private and public funding. In addition, inclusion in the register entitles the company to receive government incentives, such as compensation for the costs of building engineering and transport infrastructure and the costs of connecting to engineering and transport networks, tax benefits, and exemption from compensation for forestry production losses.

The total investment in the Sokyryany Industrial Hub Industrial Park may amount to UAH 620 million in the period from 2024 to 2026, with companies from the UAE and Germany as investors. The KYT Industrial Park plans to raise private and credit funds in the amount of UAH 1.75 billion for its development.