In particular, the government will allow communities to draw money from their budgets to design and prepare documentation for the construction, reconstruction, and repair of engineering and transport infrastructure facilities necessary for creating and operating industrial parks. The main benefit is to allow financing not only for the design but also to execute the work, the parliamentarian said.
The government explained why allowing communities to fund infrastructure for industrial parks is essential.
- First, communities are interested in attracting industrial investments because these are future revenues for their local budgets.
- Secondly, these communities, particularly the larger and more capable, already know what industrial parks are and are ready to enter the competition for investors.
- And thirdly, unlike central budgets, local budgets have funds allocated for developing such industrial infrastructure.