Residents of the FEZ "Vitebsk" have invested over $100 million in project implementation over ten years.

October 15, Vitebsk / Sergey Kochetov - BELTA /. Residents of the FEZ "Vitebsk" have invested over $100 million in project implementation over the decade of the FEZ's existence, creating more than 8,000 jobs. This was announced to journalists by Oleg Kondratovich, Head of the Investment and Foreign Economic Activity Department of the FEZ Administration, at an exhibition of residents' products, which is taking place today in Vitebsk as part of the autumn business forum and is dedicated to the 10th anniversary of the FEZ's establishment.

 34 residents from 13 countries, including Germany, Poland, the USA, the Czech Republic, Great Britain, Russia, Canada, and a number of other countries, operate in the FEZ. In 2008-2009 alone, 7 new enterprises were registered in the FEZ with a total declared investment volume of over $40 million. The industrial potential of the FEZ is based on enterprises operating in the fields of mechanical engineering and metalworking, food, chemical, fuel, and light industries. In 2008, residents produced products worth over Br500 billion, which is 121% of the 2007 level. Last year, products and services worth almost $150 million were exported, or more than 70% of the total volume produced. The amount of taxes and fees paid in 2008 exceeded Br75 million.

The FEZ Administration has significantly expanded the geography of its search for potential partners, and today certain results have been achieved in negotiations with representatives of business circles from China, India, Japan, Venezuela, the UAE, Iran, and the Republic of Korea. In addition, Russian and Western European businessmen show increased interest in the investment potential of the FEZ. At the same time, the management of the Vitebsk FEZ actively cooperates with Belarusian embassies abroad and the diplomatic corps of foreign states in Belarus, Oleg Kondratovich added.

In total, the exhibition, which opened at the Ice Sports Palace, features products from more than 20 resident enterprises of the FEZ. Within the framework of the exhibition, a conference is organized, which will include a presentation of the investment results of the ten-year activity of the Vitebsk FEZ, as well as promising directions and projects planned for implementation. The FEZ administration will introduce current and potential investors to the development of the territorial potential and infrastructure of the zone, and the founders of the FEZ resident enterprises will share their experience in implementing projects within the free economic zone. For potential investors, visits to both resident enterprises and promising industrial sites included in the FEZ and ready for investment development will be organized.

The "Vitebsk" FEZ was established in August 1999. The territory of the free economic zone includes seven sectors with a total area of over 1.2 thousand hectares.