BREST, 24 February (BelTA) – The free economic zone (FEZ) Brest will finish creating infrastructure in its Italian industrial district this year, BelTA learned from Head of the FEZ Brest Administration Fyodor Kolonchuk.
“The work to set up an Italian industrial district in the industrial area Airport has been going on for several years. We intend to finish the project this year. The land plot occupies 26ha. It will have all the necessary engineering and transport infrastructure, including streets and roads, communications, natural gas, water supply, and wastewater disposal – all the utilities needed to start manufacturing,” the official said.
The free economic zone's development fund spends money to build the infrastructure in the area. About Br1.2 million will be spent on it this year, up from Br925,000 in 2019. “Not only Italians are invited to operate in this district but any investor, who wants to start and develop a business using advantages of the free economic zone. Depending on the scale of the intended business we can split the area into separate plots of 1-5ha and more,” Fyodor Kolonchuk noted.
The idea to set up an Italian industrial district as part of FEZ Brest was first formulated about ten years ago. Two enterprises with German investments operate there now as well as companies with investments coming from Israel, UK, Poland, and Russia. A new enterprise of the Italian-Belarusian company Freeza Industry was opened in the Airport area in 2018 to make energy-saving components for commercial refrigeration equipment. The joint venture demonstrates one of the highest rates of export growth among FEZ Brest resident companies now.
Belarus' first free economic zone Brest will celebrate 25 years since its inception next year. At present the zone offers 10,700ha of economic space where certain preferences and incentives are available to Belarusian and foreign investors. The zone includes land plots located in Brest and the district, in Baranovichi, Pinsk, Kobrin, and Gantsevichi. Spare industrial premises of Brest Oblast enterprises are also used to bring new investors into the free economic zone.
