Chinese business has shown interest in establishing a new production facility at the Vitebsk Fur Factory

July 9, Vitebsk / Diana Kurilo - BELTA /. Chinese business has shown interest in creating a new production facility at the Republican Production Unitary Enterprise "Vitebsk Fur Factory", the head of the Vitebsk City Executive Committee's Economy Department, Elena Zhuravleva, told a BELTA correspondent, summarizing the results of the visit of official and business delegations from the city of Harbin to Vitebsk, which ended on July 8. The project envisages the modernization and relocation of the production capacities of the existing enterprise to a new site and its placement in a single complex with a fur farm. The project cost is estimated at $41 million. Contact with a potential investor was established during a business meeting of the business circles of Harbin and Vitebsk, which took place as part of the visit. Following its results, a protocol of intent was signed, defining the main areas of mutual cooperation. In particular, several investment projects for the construction of a business center, housing, and a hotel in Vitebsk will be presented to the Chinese side for consideration in the near future. In addition to the fur factory, investors are interested in the possibility of participating in the creation of pharmaceutical production at OJSC "Belvitunipharm" and an IT park. The foreign trade turnover of the Vitebsk region with the PRC has more than tripled since 2005, with a 1.7-fold increase in goods exports. For January-May 2012, the export volume amounted to $11 million, and imports - $48 million. -0-