FEZ Vitebsk exports nearly $160m in January-September
08/11/20110 views
VITEBSK, 8 November (BelTA) – Resident companies of the Vitebsk Free Economic Zone (FEZ Vitebsk) exported commodities worth nearly $160 million in January-September 2011, an increase of 25% compared to the same period last year, BelTA learned from the investment and economic department of the FEZ administration.
The CIS accounted for almost 90% of exports, with Russia's share being approximately 82%. The free economic zone imported raw materials and component parts worth $153.2 million (up 4.3% over the same period last year). Over the first nine months of 2011, FEZ Vitebsk recorded a trade surplus of $6.7 million. Overall, foreign trade in January-September was 13.8% higher than in the same period a year ago.
FEZ resident companies attracted $32.4 million in foreign investment, including $19.3 million in loans and $13.1 million in FDI.
In January-September, FEZ residents utilised Br91 billion in investment, with fixed-capital investment accounting for Br70.1 billion. Together with appropriations from the central state budget for the development of FEZ Vitebsk's infrastructure, the total volume of fixed-capital investments in the free economic zone amounted to Br73.8 billion.
FEZ resident companies produced goods worth over Br873 billion, an increase of 75%. Import substitutes constituted nearly 50% of the total output. Fourteen FEZ Vitebsk residents are included in the import-substitution programme. Revenue from the sales of products (works, services) exceeded Br1.1 trillion, with net profit reaching Br148.2 billion. Over the nine months, 440 jobs were created. As of 1 October, the total number of jobs exceeded 11,200.
The Vitebsk Free Economic Zone was established in August 1999. Currently, 45 investment projects are being implemented within the zone. Over 60% of FEZ Vitebsk resident companies are joint ventures and foreign-owned companies established with the assistance of investors from 13 countries, including Germany, Poland, the USA, the Czech Republic, the UK, Russia, Canada, the Netherlands, and Israel. Enterprises specialising in mechanical engineering, woodworking, the food industry, chemical, fuel, and light industries form the basis of the industrial potential of the Vitebsk Free Economic Zone. The zone encompasses 12 sectors with a total area exceeding 2,100 hectares. The sectors are located within the city limits of Vitebsk, Postavy, Orsha, Baran, and the town of Bolbasovo (Orsha District), as well as in Vitebsk District.
BELTA