Vitebsk signs 22 investment contracts worth Br1.3tn in 2012

VITEBSK, 21 August (BelTA) – Since the beginning of the year the Vitebsk Oblast Executive Committee has signed 22 investment contracts worth Br1.3 trillion in accordance with Decree No. 10 "Concerning the establishment of additional conditions for investment activity in the Republic of Belarus", BelTA learnt from Svetlana Medvedskaya, the chief of the department for investments and innovations of the economy committee of the Vitebsk Oblast Executive Committee. Projects shall be implemented until 2019. All in all, since Decree No. 10 entered into force (on 6 August 2009 – note by BelTA) Vitebsk Oblast has concluded 91 investment contracts for Br3.6 trillion. Thus, one third of the contracts were signed this year, emphasized Svetlana Medvedskaya. Fruitful cooperation with investors, including foreign ones, was promoted by investment and innovation international forums and the strengthening of economic, cultural and educational ties between Vitebsk Oblast and the regions of other states. Foreign partners are interested in the meat and dairy and food industries, garment production, processing of wood and peat to produce fuel pellets. For example, the Russian company and Verkhnedvinsk Creamy are busy setting up the joint venture Verkhny Loug (Upper Meadow) to produce mozzarella type of cheese. The investments will amount to Br21 billion. About 95% of the products will be exported to the Russian Federation. The Swedish company Vireo Energy AB is mounting installation to produce electrical and thermal energy from landfill gas at solid municipal waste landfills in Tolochin, Orsha and Vitebsk districts. Construction of the health recreation and tourist complex Plissa is in progress in Glubokoye District. Some Br17.5 billion has already been utilized here. Some projects underway in Vitebsk Oblast are important not only for the local economy but also for Belarus as a whole. For example, the Industry Ministry, Legmash Plant and Manuli Rubber Industries s.p.a signed an investment agreement to manufacture high pressure hoses, create a joint venture in Orsha. The investments are estimated at more than $4 million. On the premises of the Orsha aircraft repair plant, companies of Ukraine, Belarus and the Russian Federation launched an investment project to modernize the technological base for repair and maintenance of helicopters and aircrafts, build a transportation and logistics center in Bolbasovo. With the participation of foreign companies, Vitebsk Oblast is implementing projects in power engineering: construction of the cascade of hydro-electric power stations located on the Western Dvina River, construction of a 427 MW combined installation at the Lukoml state district electric plant. The Vitebsk Oblast Executive Committee together with foreign investors is currently discussing the projects on the creation of transport and logistics centers near the Vitebsk airport. Another project is the construction of the Grogorovshchina border crossing in Verkhnedvinsk District. The Vitebsk Oblast companies maintain foreign economic relations with over 100 countries and all regions of the Russian Federation. In 2012 Vitebsk Oblast plans to organize guest sessions on investments and innovations in Moscow, Moscow Oblast, Smolensk, Kaluga and Saint Petersburg.

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