FEZ "Vitebsk" and the Indian Business Union will develop investment cooperation
The administration of FEZ "Vitebsk" and the Indian Union of Organizations for the Promotion of Trade and Industry will develop cooperation in the investment and information spheres, reported Yulia Mikolaichik, the official representative of the FEZ administration.
This is stipulated by a cooperation agreement signed during a recent visit of a delegation from the Indian business union to Belarus. The document creates a basis for establishing information exchange, promoting cooperation between enterprises, and advancing businesses of the two countries into new markets. In addition, Priyanshu Jha, Chairman of the Union of Organizations, was handed a power of attorney to represent the interests of FEZ "Vitebsk" in foreign countries. The administration of the Vitebsk FEZ began using this investment tool in 2018, and it is already demonstrating its effectiveness.
The visit was the first visit to FEZ "Vitebsk" by representatives of Indian business. The agreements reached during the negotiations and the documents signed will contribute to the intensification of mutual contacts and create a reliable basis for the implementation of joint projects, particularly in the pharmaceutical and machine-building sectors. Guests from India highly appreciated the investment potential of the Vitebsk region and expressed their desire to visit the international business conference "Innovations - the Path to Successful Integration," organized in the regional center in July 2018 with the participation of the FEZ "Vitebsk" administration, added Yulia Mikolaichik.
FEZ "Vitebsk" was established in 1999, occupies a territory of over 2.4 thousand hectares, and consists of 13 sectors, including 7 in Vitebsk, 4 in Orsha district, and one each in Vitebsk and Postavy districts. 39 enterprises with the participation of investors from 12 countries are registered as FEZ residents, carrying out activities in 25 production areas (machine building, electronics, veterinary, chemical, fuel, food, light industry, etc.). The total number of employees at resident enterprises is almost 11 thousand people.