The Verkhovna Rada has passed bill No. 2844 of May 14, 2015 on lifting regulatory barriers to develop industrial parks in the country.

A total of 266 lawmakers supported the bill at second reading on Tuesday.

"Support of industrial parks is a real tool to attract investment in the real economic sector – into the processing industry where jobs are created and taxes are paid," one of the authors of the bill, Viktor Halasiuk (Oleh Liashko's Radical Party) said.

According to the attached materials to the bill, it is planned to authorize the Economic Development and Trade Ministry of Ukraine to form and implement the policy of creating functioning industrial parks due to the liquidation of the State Agency for Investment and National Projects Management of Ukraine.

The bill obliges the ministry to post a list of industrial parks (including pilot parks) on its website. The criteria used to decide on the inclusion of industrial parks in the list of pilot projects remain to be defined.

The length of take it takes for agreements to be made on the creation of industrial parks to take effect has been specified – from the date of signing the agreement, and the term of looking for the managing company by the initiator of the park creation has been increased from one to two years.

Amendments to the Land Code specify the notion of industrial park as an entity which has rights to land parcels as well as other facilities within the industrial park.

Rights to land plots can be transferred to the managing company of the industrial parks and the leaser (the initiator of the park creation) is authorized to sub-lease land parcels to industrial park participants without a preliminary agreement with the owner of the land parcels.

The managing company of the industrial parks is exempted from paying rent rates for the use of land parcels in state or municipal ownership for the period of three years from the moment of the signing of the agreement between the initiator and the managing company.

As of October 2014, the list of industrial parks of Ukraine includes eight parks: Svema (Shostka, Sumy region), Solomonove (Uzhgorod district, Zakarpattia region), Riasne-2 Lviv industrial park, Dolyna (Ivano-Frankivsk region), Slavuta (Khmelnytsky region), Kremenchuk (Poltava region), Korosten (Zhytomyr region) and First Ukrainian Industrial Park (Velyka Dymerka, Brovary district in Kyiv region).