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Foreign investment in Grodno Oblast up 3.9 times in H1

GRODNO, 20 August (BelTA) – In January-June 2012 foreign investors put $217 million in the real economy of Grodno Oblast (except banks), up 3.9 times over H1 2011, BelTA learnt from the economy committee of the Grodno oblast executive committee.

The bulk of the investment came from Cyprus (22.4%), the UK (21.9%), India (16.8%), the Netherlands (16.7%), Lithuania (4.9%), Poland and Finland (4.6% each).

Over 93% of investments were injected into industrial companies. Foreigners also invested in trade, transport, auto services, production of household goods, agriculture, real estate operations, and leasing.

In the first six months Smorgon District received 59% of the total foreign investments. Grodno organizations accounted for 28.8%, Lida District – for 7.6%.

Gross foreign direct investment accounted for 43.8% of all foreign investment. The inflow increased 1.9 times as compared with H1 2011.

In January-July this year foreign direct investment on a net basis (excluding debt to direct investors for goods (works, services) amounted to $72.2 million. In 2012 the region is projected to raise $129 million worth of investments.

In H1 2012 local organizations (except for banks) invested $46.7 million abroad, up one third as against January-June 2011. Direct investment accounted for 70.8%, down 5.3%. The main form of direct investment was debt instruments. The debt for goods, works, services made up $33.1 million. Economic entities of Grodno Oblast invested mostly in Russia (51.5%), Ukraine (21.4%), and Kazakhstan (11.8%).

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