18:56 21.11.2022

Export-oriented industrial park NOVO opens in Volyn

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The NOVO industrial park in Novovolynsk (Volyn region) with an area of 20 hectares near the border with Poland was opened in Ukraine on Monday, the press service of the Ministry of Economy reports.

"The uniqueness of the site is that the industrial park NOVO is located 20 minutes from Poland, and this makes the residents of the park automatically export-oriented, because the European market is nearby," the ministry's press release says.

As reported, the Novovolynsk industrial park was included in the register of industrial parks in July 2017, and in early October of this year, Bureau of Investment Programs (Kyiv) became its managing company.

At the same time, the head of the management company, Oleksandr Bondarenko, noted that there are already preliminary agreements on the obligation to enter the park with enterprises from fish processing, food production and logistics sectors.

"During the war, industrial parks can become points of development for the Ukrainian economy. After all, the provided economic incentives for residents make it possible to build a plant, saving 25% of investments compared to a site located 100 meters from the industrial park, not to mention neighboring EU countries, where the amount of investment will be more by 30-40%," Bondarenko said.

According to the press release, the government has high hopes for just such a model for the development of the Ukrainian export-oriented industry in the coming years.

According to First Deputy Minister of Economy Denys Kudin, who participated in the opening of the park, industrial parks should become reference points for the growth of the Ukrainian economy, and in the medium term, the growth effect may expand as new enterprises join the them.