KIEV, Aug. 14 - President Viktor Yanukovych signed a law that seeks to encourage creation of industrial parks in Ukraine by removing duties on imports of materials and equipment needed for their construction.

The law is supposed to take effect on Sept. 5.

The legislation is estimated to attract about $8 billion into the Ukrainian economy within the next three to four years, create 300,000 new jobs, and develop the country's infrastructure, Vladyslav Kaskiv, head of the State Agency for Investment and National Projects, said.