New resident of FEZ "Vitebsk" with Spanish investments will create veneer production
LLC "Karelia Veneers" has been registered as a resident of FEZ "Vitebsk" with a project to create veneer production, the FEZ administration reported.
The founder of the enterprise is a Spanish investor. Veneer is widely used in the production of furniture, musical instruments, and as a finishing material. The wood raw materials necessary for its production will be supplied mainly from Russia. At the same time, the finished products are planned to be fully shipped to the markets of near and far abroad countries, as well as used for the own needs of the investor company from the Iberian Peninsula.
The project is planned to be implemented in sector No. 2 of FEZ "Vitebsk" in the industrial zone on the outskirts of the regional center, and at least 80 jobs will be created. Production activities are expected to begin in the first quarter of 2021. LLC "Karelia Veneers" became the first enterprise in FEZ "Vitebsk" with Spanish investments. In total, 48 organizations created with the participation of investors from 14 countries, including Germany, the Czech Republic, Russia, Poland, Great Britain, the USA, Israel, Cyprus, and Estonia, have been registered as residents of the FEZ.
In January-June 2019, existing residents invested Br103 million in development, with a growth rate of 194% compared to the corresponding period of 2018. During this period, they worked with a net profit of about Br70 million, which is more than 1.5 times higher than the figure for the six months of last year. Over 16.6 thousand people work at resident enterprises. In January-June, the average monthly salary was almost Br 926.