FEZ Vitebsk export nearly $100m in January-June 2011

VITEBSK, 4 August (BelTA) – Resident companies of the free economic zone Vitebsk exported nearly $100 million worth of commodities in January-June 2011, 31% up from H1 2010, representatives of the FEZ Vitebsk administration told BelTA. In January-June 2011 the trade turnover of FEZ Vitebsk totaled $188.3 million, over 22% up from H1 2010. FEZ Vitebsk’s foreign trade surplus stood at $7.6 million. The import of raw materials and components exceeded $90 million, 13.6% up from H1 2010. CIS states accounted for about 90% of the export, with Russia’s share over 80%. FEZ Vitebsk residents also traded with Germany, Italy, Hungary, Georgia, Romania, Poland, Latvia, and Lithuania. FEZ Vitebsk resident companies attracted about $14 million in foreign investments, including $9.8 million in FDI. The re-investment of profits earned by foreign investors into the development of existing enterprises accounted for over 50% of the total FDI. In January-June 2011 FEZ Vitebsk resident companies used nearly Br41 billion of investments, with the share of fixed-capital investments over 74% (Br30.3 billion). Together with appropriations of the central state budget for the sake of developing the FEZ Vitebsk infrastructure the total volume of fixed-capital investments in the free economic zone amounted to Br33.3 billion. In January-June 2011 FEZ Vitebsk resident companies increased their output by over 54% in effective prices in comparison with the same period of last year to about Br481 billion. The share of import substitutes reached 52.2% of the total output. Net profit of the resident companies went over Br55 billion, with Br41.1 billion in taxes and dues paid to the state. In H1 2011 the resident companies created about 300 jobs, with the total number of jobs at 9,000. The free economic zone Vitebsk was founded in August 1999. At present 42 investment projects are being implemented in the zone. More than 60% of FEZ Vitebsk resident companies are joint ventures and foreign-owned companies that have been set up with assistance of investors from 13 countries, including Germany, Poland, the USA, Czechia, the UK, Russia, Canada, the Netherlands, and Israel. Enterprises specializing in mechanical engineering, woodworking, food industry, chemical, fuel, and light industries constitute the foundation of the industrial potential of the free economic zone Vitebsk. The zone comprises 12 sectors with the total area of over 2,100 hectares. The sectors are located within city limits of Vitebsk, Postavy, Orsha, Baran, and the town of Bolbasovo (Orsha District) and in Vitebsk District.

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