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: 2016-12-04
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Odesa Region ()
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investments), the USA US $ 49 millions (16.9 %), Cyprus US $30.6

millions (10.6 %), United Kingdom US $ 21 million (7.3 %), Switzerland

US $16.4millions (5.7 %), Greece US $ 13.2 million (4.6 %).

 

The main investors to the regional economy in 2002 were entrepreneurs

from Cyprus US $14.3 millions, Virgin Irelands (Great Britain) US $

13.2 millions, the USA US $6.2millions, Switzerland US $ 3.8

millions, Lebanon US $ 3 millions, United Kingdom US $ 1.9 millions,

Hungary US $ 1.5 millions, Netherlands US $ 1.3 millions, Turkey

US $0.9millions, Israel US $ 0.7 millions.

 

Food and food processing industry US $ 6.2 millions, trade US $ 5.6

millions, transport facilities, cargo reloading in regional ports US $

13.7 millions, finance consulting and other commercial services US $

5.6 millions, construction and real estate activities US $ 0.4 millions,

industry (without food industry) US $ 4.6 millions, oil refinery US $

9.1 millions.

 

Free Economic Zones

 

There are two free economic zones in Odessa region: Porto-Franco and

Reni. Below is a short description of the zones. For more information

about activity in the zones, interested parties should contact local

government departments and agencies or local consulting and law firms.

 

SPECIAL (FREE) ECONOMIC ZONE PORTO-FRANCO

 

Location, area: Odessa, 32,5 hectares

 

Term of action: 25 years

 

Effective from: January 1, 2000

 

Legal basis: laws of Ukraine no. 1607 of march 23, 2000 on special

economic zone Porto-Franco in the territory of the Odessa sea

commercial port and no. 1608 of march 23, 2000 on amendments o some

legislative acts of Ukraine on taxation in connection with creation of

special (free) economic zone free port in the territory of the Odessa

sea commercial port.

 

Priority types of economic activity: servicing of transits, their

storage, grading and assortment work, packing, revision, rendering

transport-forwarding and agents services.

 

Privileges granted to investors:

 

- special custom regime;

 

- during the first 3 years the income tax rate 0%, from fourth to

sixth year 50% of the current rate;

 

- exemption from investment tax: the investment sum obtained in

accordance with the investment project is exempted from taxation;

 

- earnings in foreign currency are exempted from compulsory sale.

 

Special conditions in which investors receive privileges: realization of

investment projects at the estimated costs not less then usd 1 mln

created by the legal persons in the territory free port on the ground

of the agreement (contract) with the body of economic development of the

zone.

 

SPECIAL (FREE) ECONOMIC ZONE RENI

 

Location, area: Odessa, 94 hectares

 

Term of action: 30 years

 

Effective from: january 1, 2000

 

Legal basis: laws of Ukraine no. 1605 of march 23, 2000 on special

economic zone Reni and no. 1606 of march 23, 2000 on amendments o

some legislative acts of Ukraine on taxation in connection with creation

of special (free) economic zone Reni.

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