Photo by Ümit Yıldırım on Unsplash

The infrastructure needed for the industrial parks will be in place over the next three years. The aim is to build 25 state-funded industrial parks across Ukraine. 

Ukraine has big plans for developing its regions, announced Oleksiy Chernyshov, Minister for Communities and Territories Development of Ukraine, recently during a panel discussion, according to the Ukrainian news outlet Ukrinform. The government wants to build 25 state-funded industrial parks around Ukraine to bring in investments. 

“Over the next three years, the Government plans to build infrastructure for a network of 25 state-funded industrial parks. This will ensure the creation of hundreds of thousands of jobs in related sectors of the economy. I want to emphasize that industrial parks are also platforms for investment by Ukrainians from abroad,” said Chernyshov.

He pointed out that his ministry, the Ministry of Economy, and the Parliament Committee on Economic Development already have prepared a bill for parliament in the second hearing. The government will build the roads needed for the industrial parks and provide support for loans related to the building of the industrial parks. The government also aims at providing tax benefits for companies registered in the parks. 

It is about regional development

The Ukrainian Prime Minister Denys Shmyhal wrote on Telegram that such industrial parks will help develop technologies and the creation of tech and manufacturing companies. Moreover, it could create a link between technology companies and manufacturers. 

“We start to establish Industry Centers 4.0 in the regions. The Government endorsed a decision that will allow creating such centers on the basis of industrial and science parks, universities,” Prime Minister of Ukraine Denys Shmyhal wrote, according to Ukrinform

The Prime Minister pointed out that the parks will be built to help regional development by creating a link between science and education with regional development. 

“That is why we want to involve Ukrainian universities, as well as establish cooperation with the European network of digital innovation hubs and international funds,” wrote Shmyhal. 

Chinese companies could play a role

Ukraine and China recently concluded several deals related to infrastructure, and China has announced that it is ready to invest more in Ukraine in the future. China has become Ukraine’s latest trading partner, but it is unclear whether China will play a role in developing the new industrial parks in Ukraine or whether they will host Chinese companies. Ambassador of China to Ukraine Fan Xianrong, however, recently said that big Chinese companies are ready to invest even more in Ukraine. 

“There are all prerequisites for even more successful development of China–Ukraine relations. I am optimistic about the prospects of our cooperation with Ukraine. To this end, the Chinese side is ready to continue making efforts together with the Ukrainian side.”

“This development is reflected in various areas of bilateral cooperation. China, in particular, has become Ukraine’s largest trading partner. This, of course, meets the fundamental interests of the people of the two countries. The potential of these relations is even greater,” Xianrong said.