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24 March 2023, 10:44

Opinion: Belarus seeks to become a profitable and prestigious investment destination

An archive photo
An archive photo

GOMEL, 24 March (BelTA) – Belarusian legislators are constantly working to make Belarus not only a profitable, but also a prestigious investment destination, Head of the FEZ Gomel-Raton administration Antonina Yezhova said at the third Congress of Free Economic Zones in Gomel on 23 March, BelTA has learned.

For the third time, the south-eastern region of Belarus brought together representatives of free economic zones, industrial parks and science and technology parks, government agencies and the expert community of Belarus and other countries, Antonina Yezhova said. “Investments and innovations are the major drivers of economic growth, which in turn is one of the sustainable development goals,” she said.

“Today everything is being done at the legislative level to make our country, including Gomel Oblast, not only a lucrative, but also a prestigious investment destination,” the head of the FEZ administration stressed.

She added that Belarus is open to foreign investment. It is creating favorable conditions for doing business. “An investor coming to our country can count on a fair and consistent legal framework that was built on international agreements and national laws,” Antonina Yezhova noted.

The FEZ Gomel-Raton has been operating for a quarter of a century, Antonina Yezhova recalled. “Over the past 25 years, the FEZ territory has expanded to cover 4,000 hectares and is now spread across 11 districts of Gomel Oblast. As of today, 64 resident companies from 16 countries are running investment projects on its territory. They employ a total of over 30,000 people,” she said.

Since the FEZ Gomel-Raton was established, more than 30 engineering and transport infrastructure facilities have been built and put into operation, a developed service infrastructure has been created, including a customs clearance point, a temporary storage warehouse, an investment development and promotion agency. “All this greatly simplifies the work of the FEZ resident companies,” Antonina Yezhova believes.

One of the elements of the FEZ service infrastructure is the science and technology park. According to the head of the FEZ administration, such a symbiosis is expected to facilitate the introduction of new solutions of the technopark resident companies at the FEZ enterprises and in other economic entities of the region and beyond.

The third Congress of Free Economic Zones is taking place in Gomel on 23-24 March. The two-day congress will highlight the role of free economic zones, industrial, science and technology parks as drivers of the development of territories, the administration of the Free Economic Zone Gomel-Raton informed. More than 250 people confirmed their participation in the forum. Among them are representatives of free economic zones, industrial, science and technology parks from Belarus, Russia, Uzbekistan, and also officials of the Economy Ministry, the Gomel Oblast Executive Committee and the Gomel City Executive Committee, and FEZ Gomel-Raton resident companies.

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