Representatives of 40 foreign companies participate in Vitebsk Business Forum

VITEBSK, 15 October (BelTA) – Representatives of 40 companies from Russia, Poland, Latvia and also diplomats have arrived in Vitebsk to attend the autumn investment forum. At the forum, companies of the Vitebsk oblast will present 140 investment projects, Chairman of the Vitebsk Oblast Executive Committee Alexander Kosinets noted during the opening of the business session. According to the Governor, Belarus has set up favourable conditions to develop the small-scale and private business. Over the nine months this year, the economy of the region attracted $1.2 billion of investments, set up 16,800 new working places. Since the beginning of 2009, almost 1,300 legal personalities and 3,200 sole traders have been registered in the Vitebsk oblast. Some 44 new enterprises including 28 with foreign capital have started to operate in the region. In January-September, the production growth made up 10.2% in comparable prices. The gross output of agricultural products reached 109.3%. The region exported goods at the amount of $780 million. According to Alexander Kosinets, despite the economic crisis, the Vitebsk oblast has reached such results due to highly skilled personnel, developed agro-industrial sector, industrial and construction companies and development of paid services. Some 140 investment projects have been proposed for investors. A significant part of them are projects dealing with the processing of local raw-materials – wood, dolomite, clay and peat. The regions of the oblast present business proposals to develop road servicing and tourist infrastructure, transport and logistics centers. Processing enterprises of the Vitebsk oblast have organized an exhibition of their products. Within the framework of the Vitebsk Business Forum the Linen Exhibition and Show is being held. It features linen garments, the up-to-date technologies in production and processing of flax. During the forum in Vitebsk, businessmen will be able to get familiar with companies of the region. The investment forum will be running through 16 October. According to Alexander Kosinets, during the previous two business forums, the Vitebsk oblast concluded 54 agreements at the amount of $480 million.

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