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24 November 2022, 18:35

Net FDI in Belarus' FEZ up 1.7 times in January-September

MINSK, 24 November (BelTA) – Foreign direct investment on a net basis in Belarusian free economic zones increased 1.7 times in January-September, Deputy Economy Minister Alesya Abramenko said reviewing performance of Belarusian free economic zones, BelTA learned from the press service of the Economy Ministry.

According to Alesya Abramenko, the effectiveness of national preferential regimes remains high.

“As far as the contribution of FEZ to the country's economy is concerned, in January-September 2022 FEZ enterprises accounted for 26% of foreign direct investment on a net basis, 23% of commodity exports, 18% of industrial output. This year, 22 new resident companies were registered. They specialize in woodworking, chemical industry, medicine, logistics, agriculture and metalworking. The total investment amounted to $167 million, 1,080 new jobs will be created,” the deputy economy minister said.

Alesya Abramenko emphasized that the performance of FEZ companies in January-September looks encouraging. FDI on a net basis grew by 73.1% up to $416.8 million, industrial output rose by 14.2% up to Br22.4 billion, revenue from product sales grew by 13.6% up to Br23.7 billion, and the export inched up by 2.9% up to $6.2 billion. This helped raise the average monthly wage of employees by 13.8% up to Br1,623. The aggregate net profit of all free economic zones was estimated at Br1.8 billion.

FEZ resident companies generated up to 80% of investments, up to 50% of commodity exports and up to 36% of industrial output in the regions where they are located.

“The government will keep creating conditions that will encourage more companies to open operations in the FEZ. This will be done by investing in infrastructure, primarily energy facilities. This year, a high-pressure gas pipeline was built in Dzerzhinsk District, four electrical substations are under construction in Brest District, Dzerzhinsk District, Minsk District and Svisloch District,” the deputy economy minister informed.

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