VITEBSK, 16 August (BelTA) – In H1 2021 foreign investors poured
over $383 million into the real sector of the Vitebsk Oblast economy.
More than 94% of the money went into the processing industry,
representatives of the Economy Committee of the Vitebsk Oblast Executive
Committee told BelTA.
Woodworking industry, food processing, pharmaceutics, and petrochemical industry were most popular with foreign investors. About $362 million was invested in the development of processing industry enterprises or over 99% of the money invested in the realization of industrial investment programs.
Foreign direct investments amounted to $66.7 million or 17.4% of the total foreign investments. More than one third of them came from companies residing in the free economic zone (FEZ) Vitebsk.
Investments from Russia accounted for over 86% of the foreign investments poured into the Vitebsk Oblast economy. Russian companies are attracted both by accommodation terms in Vitebsk Oblast and by convenient logistics. The top three investor countries also include Ukraine (3.9% of the total volume) and Cyprus (2.7%). Cyprian companies are mostly residents of FEZ Vitebsk. They pour money into civil engineering, woodworking, production of chassis-based coiled tubing equipment for repairing gas and oil wells, various automobiles, and fiber optic cables.
Representatives of the Vitebsk Oblast private sector also invest in foreign companies. Investments in Russia exceeded $84 million in H1 2021 (over 8% of the total). Belarusian investors are primarily interested in the processing industry.
Woodworking industry, food processing, pharmaceutics, and petrochemical industry were most popular with foreign investors. About $362 million was invested in the development of processing industry enterprises or over 99% of the money invested in the realization of industrial investment programs.
Foreign direct investments amounted to $66.7 million or 17.4% of the total foreign investments. More than one third of them came from companies residing in the free economic zone (FEZ) Vitebsk.
Investments from Russia accounted for over 86% of the foreign investments poured into the Vitebsk Oblast economy. Russian companies are attracted both by accommodation terms in Vitebsk Oblast and by convenient logistics. The top three investor countries also include Ukraine (3.9% of the total volume) and Cyprus (2.7%). Cyprian companies are mostly residents of FEZ Vitebsk. They pour money into civil engineering, woodworking, production of chassis-based coiled tubing equipment for repairing gas and oil wells, various automobiles, and fiber optic cables.
Representatives of the Vitebsk Oblast private sector also invest in foreign companies. Investments in Russia exceeded $84 million in H1 2021 (over 8% of the total). Belarusian investors are primarily interested in the processing industry.
