Export of FEZ Vitebsk companies up 25% in 2010

VITEBSK, 11 February (BelTA) – In 2010 the export of the resident companies of the free economic zone Vitebsk totaled more than $140 million (more than 25% against 2009), BelTA learnt from the administration of the FEZ. Exports to CIS accounted for 90% of the overall export volume (exports to Russia were more than 80%). Apart from that, the FEZ residents traded with companies from Germany, the United States, Austria, Lithuania and Latvia. The FEZ resident companies imported $124.3 million worth of raw materials and components (down 6.3% over 2009). The FEZ residents had a $15.7 million foreign trade surplus ($17.4 million excluding oil and oil products). The FEZ residents raised about $23.2 million of foreign investments including $15.5 million of direct ones. Reinvestment of profits accounted for 58% of the investments. In 2010 the FEZ residents raised Br70.6 billion of investments, while fixed capital investments made up Br53.2 billion (near 75%). The overall volume of fixed capital investments in the FEZ Vitebsk totaled Br58.2 billion, 94% of it was utilized to construct and renovate the production facilities and purchase new equipment. The industrial output of the resident companies reached Br716 billion, up 21% over 2009 in comparable prices. Import-substituting products accounted for almost 50% of the total output; 14 FEZ Vitebsk resident companies were included into the import-substitution program. The revenues from selling products (works, services) amounted to Br836.5 billion. The resident companies received the net profit to the tune of almost Br13 billion; Br75.7 billion was transferred into the budget and extra-budgetary funds. In 2010, the resident companies created over 600 jobs; as of 1 January 2011, the resident companies employed a total of 8,800 people. The FEZ Vitebsk was set up in August 1999. Today the FEZ is running 38 investment projects. Over 60% of its resident companies are joint ventures and foreign companies with investors from 13 countries including Germany, the USA, the UK, Canada, Czech Republic, Poland, the Netherlands, Israel and Russia. The resident companies offer fuel, chemical, light industry, mechanical engineering products, and food. The free economic zone includes 12 sectors, with the total area exceeding 2,100 hectares.

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