It makes sense: 4th bank to support industrial parks at public expense
28 February 15:59
The Ministry of Economy of Ukraine has signed the fourth cooperation agreement under the State Stimulation of Industrial Parks program. Sens Bank became the fourth state-owned bank to join the program. This was reported by the Ministry of Economy, according to
In addition to Sens Bank, the Ministry’s partners in implementing the program are Ukreximbank, Oschadbank, and Ukrgasbank.
What does the state support program provide for?
Initiators or management companies of industrial parks can receive state incentives in two key areas.
The first area involves providing funds on a non-refundable basis for the development of industrial parks. The state covers part of the costs of roads, communications, gas, water and electricity supply. This simplifies the development of parks and attracts investors.
The second area is compensation for the costs of connecting to utility networks. This reduces the financial burden and speeds up the launch of facilities. During martial law, compensation is only available for connection to the power grid.
As noted by Sens Bank, from now on, business entities can receive a grant from this financial institution that will cover up to 50% of the estimated cost of the industrial park development project and the cost of connecting it to utility and transport networks. The amount of the grant is up to UAH 150 million.
The criteria for participation in the program are as follows:
– The presence of an industrial park in the Register of Industrial Parks;
– An agreement on the creation and operation of the industrial park;
– Compliance with the requirements of Article 7-1 of the Law of Ukraine “On Industrial Parks”;
– No open bankruptcy proceedings, seizure or confiscation of assets, no tax arrears and no information on corruption offenses.
How the state support program for parks is being implemented
The first industrial park received funding under the state program to stimulate the development of industrial parks under the Made in Ukraine policy in August 2024. It is an industrial park in the city of Dnipro. The park’s management company has requested UAH 150 million out of the required UAH 326.9 million to build a transformer substation.
The Ministry of Economy reported that 13 industrial parks implementing 26 projects have already received funding under the State Stimulation of Industrial Parks program. Two more municipal parks will receive funds in 2025. Thus, the Ministry hopes that in three years, 26 new enterprises and 65,000 m² of new production space will appear in Ukraine.
In 2025, UAH 500 million is allocated to stimulate industrial parks, and the amount may be increased based on the results of the first half of the year.
Benefits for industrial parks are provided for
Participants in industrial parks receive a number of tax and customs incentives, such as
- exemption from import VAT and customs duties on equipment (provided that there are no analogues in Ukraine, it is used exclusively on the territory of the industrial park and cannot be leased)
- exemption from income tax for 10 years (provided that the released funds are used for the development of the enterprise);
- the possibility of obtaining local tax benefits (by decision of local authorities).
As a reminder, in mid-February, the Verkhovna Rada of Ukraine adopted in the first reading the draft law (No. 12117) “On Amendments to Certain Legislative Acts of Ukraine on Improving the Functioning of Industrial Parks.”
The draft law, in particular, introduces the concept of an “eco-industrial park”, clearly delineates the functions of all industrial park entities, and expands the list of activities of an industrial park participant.
