FEZ Vitebsk resident companies increase export by 21% in January-March

VITEBSK, 5 May (BelTA) – In January-March the commodity export by FEZ Vitebsk resident companies rose by almost 21% over the same period of 2010 to $36.6 million, BelTA learnt form the FEZ administration. The bulk of exports (over 95%) went to the CIS member states; Russia accounted for over 80% of the total exports. This year the resident companies dealt with partners from Germany, the USA, Austria, Lithuania and Latvia. The import amounted to $31.2 million, up 5.1% over Q1 2010. In Q1 2011, the FEZ Vitebsk had a trade surplus of $5.4 million. The FEZ resident companies raised about $11 million of investment, including $7.1 million of direct investment. Reinvestment of profits of foreign investors into the development of the existing production facilities made up almost 72% of direct investment. The industrial output of the resident companies made up Br220 billion, up 41.6% over the same period 2010 (or almost 60% excluding companies of the national subordination). Import-substituting products made up about 50% of the total production; all in all, 14 resident companies were included in the import substitution program. The revenues from selling products (works, services) amounted to Br222.6 billion. The resident companies received a net profit of Br11.4 billion; Br17 billion worth of taxes, dues and payments was transferred in the budget and extra-budgetary funds. In Q1 2011, the resident companies created over 140 jobs, their total number exceeded 8,600 as of 1 April. 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, Czechia, 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. The territory of the FEZ includes Vitebsk, Postavy, Orsha, Baran, the village of Bolbasovo (Orsha District), and Vitebsk District.

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