Law of Ukraine
“On the Special Regime for Investment Activities in the Priority Development Territories in Volyn Oblast”
Date of Entry into Force:
May 11, 2001
This Law determines the procedure of establishing and functioning of the special regime of investment activities in the priority development territories in Volyn oblast.
The town of Novovolynsk and Zhovtneve township of the Novovolynsk town within their respective administrative-territorial borders belong to the priority development territories in Volyn oblast. Special regime of investment activities shall be effective within the above territories during 30 years.
This special regime of investment activities is to be established to attract investments in priority industries in order:
- to create new jobs and employ workers freed up in course of closing down, restructuring and re-profiling of mining and other enterprises;
- to introduce recent technologies;
- to develop foreign-economic relations;
- to increase output of highly competitive goods and services;
- to establish up-to-date production, transportation and market infrastructure and facilitate effective use of natural resources.
The administration bodies in the priority development territories are:
- Novovolynsk city council;
- executive committee of the Novovolynsk city council;
- Council on issues of priority development territories.
While implementing investment projects subjects of entrepreneurial activities shall be granted privileges in:
- import duty;
- value added tax;
- enterprise profit tax.
The state guarantees stable special regime of investment activities in the priority development territories in Volyn oblast for the period of 30 years.