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21 May 2023, 11:43

Net profit of companies of Belarus' FEZs doubles in Q1 2023

MINSK, 21 May (BelTA) – The net profit of resident companies of Belarusian free economic zones doubled in the first quarter of 2023, BelTA learned from the press service of the Economy Ministry.

In the first quarter, FEZ resident companies accounted for one fifth of export of goods and net FDI attracted to the country, as well as 17% of industrial output. The average monthly salary of employees at FEZ enterprises increased by 17.4%, taxes paid by resident companies rose by 36.2%. The output and proceeds from the sale of products grew significantly. “All free economic zones posted the net profit and it doubled compared with the first quarter of 2022,” the Economy Ministry informed.

The export of goods of FEZ companies was estimated at $2 billion, which secured the surplus in foreign trade in goods ($861.1 million).

“In order to launch new highly efficient operations catering for the EAEU market, nine resident companies were registered in January-March. They are set to implement projects in the field of logistics, food industry, furniture production and metalworking worth a total of $69 million. The new companies plan to create 600 jobs,” the press service noted.

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