The Vitebsk Regional Executive Committee has concluded an investment agreement with "Marko"

Vitebsk has adopted a resolution of the Vitebsk Regional Executive Committee "On the conclusion of an investment agreement with the management company of the holding "Belarusian Leather and Footwear Company "Marko" – ZSOOO "Marko".

As reported to "Yezhednevnik" by the Department of Investment and Innovation of the Committee of Economy of the Vitebsk Regional Executive Committee, the investment agreement expresses mutual interest in establishing cooperation conditions for the implementation of the investment project "Creation of production capacities for the production of footwear up to 5 million pairs per year and reconstruction of the fur factory with the creation of the holding "Belarusian Leather and Footwear Company "Marko" for 2013 – 2024".

The implementation of the investment project will allow: to increase footwear production volumes to 5 million pairs per year by December 31, 2018; to reconstruct and modernize fur production with a processing capacity of 300 thousand sheepskins and 250 thousand units of fur raw materials per year; to organize sewing of fur and fur products at the modernized factory – up to 250 thousand units, production of shoe lining – up to 300 sq. meters; to reduce the import component in footwear production from 63.7 percent in 2012 to 50 percent in 2018; to ensure export growth by 46.7 million dollars, a positive balance of foreign economic activity; to create about a thousand new jobs.

As is known, this event was preceded by the decree of the President of the Republic of Belarus of October 14, 2013 No. 467 "On measures for the development of leather and fur production and footwear production". According to this document, the holding "Belarusian Leather and Footwear Company "Marko" includes private unitary production enterprises "Vitma" and "San Marko", open joint-stock company "Krasny Oktyabr", limited liability company "Marko-Service", as well as RUP "Vitebsky Fur Factory". The latter will be sold to ZSOOO "Marko" for one base value for the purpose of reconstruction and modernization of this factory for the production of footwear, fur and sewing products from it. ZSOOO "Marko" is obliged to complete the reconstruction and modernization of fur production no later than three years from the date the decree enters into force.

Gennady Zakrzhevsky, Ejhednevnik