MINSK, 18 February (BelTA) – The free economic zone (FEZ) Minsk has summed up results of last year's work. Many indicators demonstrated growth despite pandemic-induced restrictions, the FEZ Minsk administration told BelTA.
Export by FEZ Minsk resident companies increased by 11% in comparison with 2019 to reach $1.468 billion. Industrial output rose by 15% to Br4.512 billion, proceeds from sales increased by 20% to Br4,790 million, fixed-capital investments – by 19% to Br272 million in comparable prices. Net foreign direct investments rose by 3.7 times to $68 million.
FEZ Minsk resident companies secured a net profit of Br217.3 million, down from Br233.6 million in 2019. They paid Br397 million in taxes and duties, 18% up from 2019.
The average monthly salary of their workers rose by 13% to Br1,517.
In 2020 FEZ Minsk resident companies hired slightly more than 1,000 people to do new jobs. The average staff number exceeded 24,600.
The FEZ Minsk administration believes the free economic zone will continue growing thanks to the implementation of investment projects by current resident companies and new ones. Projects in mechanical engineering industry, instrument making, and green technologies may be implemented in the future, the source said.
About $380 million is supposed to be channeled into the foundation of effective manufacturing enterprises and the creation of about 4,000 high-performance jobs by 2025 taking into account the development of the energy infrastructure.
The free economic zone (FEZ) Minsk has been working since 2 March 1998. Since then it has helped raise over $2 billion worth of investments. FEZ Minsk resident companies exported over $12 billion worth of merchandise of their own make. Over 26,000 jobs have been created as well. As many as 45 modern plants and factories have been built and the necessary engineering infrastructure has been created in FEZ Minsk. At present FEZ Minsk resident companies specialize in various branches of the production sector. The main ones are mechanical engineering and metalworking, automobile engineering, production of construction materials, electronics, and printing.
