MINSK, 1 April (BelTA) – A new resident company has been registered in the free economic zone (FEZ) Minsk. OOO Ilimdrev intends to set up an enterprise in the free economic zone to export converted timber, BelTA has learned.
The company intends to export merchandise to South and Eastern Asia (Japan, China, South Korea, Vietnam, India, Pakistan), the European Union, and the USA in line with previously signed contracts. The enterprise intends to embrace cutting-edge technologies and master the production of new kinds of converted timber.
According to FEZ Minsk administration representatives, the project will allow channeling direct investments into the woodworking industry, starting the manufacturing of competitive products in addition to creating jobs and increasing the inflow of foreign currency into the country.
The free economic zone (FEZ) Minsk was established in 1998. Since then it has become a leading industrial hub and has raised investments to the tune of over $2 billion. The zone occupies about 2,800ha. It includes 23 land plots in Minsk and the oblast. FEZ Minsk is home to over 110 resident companies. As many as 42 enterprises have been built or reconstructed there. Another ten are being built. Another 17 are being designed. The FEZ Minsk companies specialize in mechanical engineering and metalworking, chemical and petrochemical industries, woodworking, and civil engineering. Investors from 20 countries have spent their money on doing business in the free economic zone Minsk. The resident companies export products to 67 countries across the globe.
