Ukraine's Economic Development and Trade Ministry late October 2016 registered the Zhytomyr-East industrial park on the area of 24.73 ha, the ministry has reported.

"The essential function of the industrial park is production of construction materials, engineering, instrument engineering, wood processing, light and food industrial goods, IT, construction of a logistic center and the aircraft servicing and repair center," the ministry said.

The ministry said that the Zhytomyr City Council initiated the creation of the park for the period of 40 years.

The ministry said that this park is the 15th in the unified register of industrial parks. The park does not have a managing company now.

Only one participant was registered in 15 industrial parks – Shostka Elevator LLC in the Svema industrial park.

The Zhytomyr City Council made the decision to create the park and approved its blueprints on July 21, 2016. Later Zhytomyr Mayor Serhiy Sukhomlyn said that at least six investors are interested in participation in the project. He said that among them is Austria's Hirsch Servo. The company sought to create foam plastic board and packaging production facilities with investment of around EUR 5 million.