FEZ Vitebsk raises $13.1mn in FDI in January-September

VITEBSK, 26 October (BelTA) - In January-September this year resident companies of the Free Economic Zone Vitebsk raised $13.1 million in foreign direct investment, up 20% from the same period 2010, BelTA learnt from the department for investment and economic of the FEZ Vitebsk administration. All in all, the FEZ Vitebsk has raised more than $140 million in foreign direct investment. Existing residents of the free economic zone have utilized more than $160 million worth of investment. In January-September, the resident companies exported $140 million worth of goods. In the eight months from January to August, the trade surplus amounted to $10.4 million. The resident companies of the FEZ Vitebsk export products to 22 countries. In January-August, the resident companies increased manufacture of import-substituting products by 76.3% to almost Br364 billion. The total output in the FEZ Vitebsk was up by 72.2% as compared with the same period 2010. In 2011, the resident companies of the FEZ Vitebsk created more than 400 jobs. All in all, the FEZ Vitebsk employs more than 8,000 professionals. The Free Economic Zone Vitebsk was set up in August 1999. Today the FEZ Vitebsk is implementing 44 investment projects. More than 60% of the residents of FEZ are joint ventures and foreign enterprises involving capital from 13 countries, including Germany, Poland, United States, the Czech Republic, United Kingdom, Russia, Canada, the Netherlands and Israel. The resident companies mainly operate in mechanical engineering, wood processing, food, chemical, fuel and light industry. The territory of the free economic zone includes 12 sectors with a total area of more than 2,100 hectares, which are located in the city of Vitebsk, Orsha, Postavy, Baran, Balbasovo (Orsha district), Vitebsk District.

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