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22 Aug 2018

Belarusian free economic zones to grow larger

MINSK, 22 August (BelTA) – The areas occupied by free economic zones will be expanded and more possibilities for developing their infrastructure will be made available. Belarus President Alexander Lukashenko has signed the relevant decree, BelTA has learned.

In line with the document the free economic zones (FEZ) Mogilev, Vitebsk, Minsk, and Grodnoinvest will be expanded by taking over promising land plots. Grodnoinvest’s territory will be optimized by getting rid of one land plot due to changes in its purpose and by excluding the land plots investors do not want.

Additional sources of funding can now be used to create infrastructure in free economic zones in Belarus. Loans are now an option. Organizations other than the FEZ administration can now be consumers in projects to design and build infrastructure installations inside a FEZ. The measures enable conditions for taking loans to build infrastructure in free economic zones in the future.

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