Signing a memorandum with Ukreximbank to improve access to financing for residents of NOVO industrial parks in Volyn
Ukreximbank and the managing company "Bureau of Investment Programs" have started expert and analytical cooperation to improve access to financial resources for the residents of the NOVO industrial parks in the Volyn region.
The agreement was signed on June 9, 2023, in Volodymyr, Volyn region.
Today, the Investment Programs Bureau's management portfolio includes two NOVO industrial parks close to the border with Poland. Their concept provides for creating industrial clusters with a developed infrastructure for joint use by participants. The managing company arranges comprehensive solutions for industrial park residents, including organizational, designing, engineering, service support for the enterprises, investor search, marketing support, etc.
"The industrial parks development should be a powerful impetus for developing the regional industry, the national economy, and international trade. High-quality services and access to financing provided to the residents of these clusters and their counterparties will allow them to improve their production cycles, financial planning, logistics, and sales. Therefore, as a specialized state-owned bank, we are ready to offer our expertise in foreign economic contracts, a wide range of loan and documentary products, unique conditions for currency exchange operations, and other relevant banking services," said Oleksandr Buts, the Head of Ukreximbank's branch in Lutsk.
"Having such a strong financial partner as Ukreximbank is important for developing the NOVO industrial parks. The participants of our NOVO parks will be provided with financial support and priority access to international and state loan programs. It is advantageous for business owners to build in the industrial parks in Novovolynsk and Volodymyr, located just 20 minutes from the Polish border, as the volume of investments is reduced by 30% due to tax benefits and communications networks connected," stated Oleksandr Bondarenko, the Managing Partner of "Bureau of Investment Programs".
It is worth reminding that residents of the NOVO industrial parks enjoy the tax benefits: income tax exemption for 10 years, no VAT, and no import duties on imported equipment and spare parts. In addition, there are benefits provided by the community the industrial park is located at: preferential rates of the real estate tax and land fees.
The NOVO Industrial Park was opened as an export-oriented food cluster in Novovolynsk in October 2022 with government and parliamentary representatives present.
It is home to fish processing, food production, and logistics companies. According to the approved concept, another industrial park in Volodymyr is expected to attract companies producing furniture, building materials, woodworking, and textiles.