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Business news

12 Feb 2016

FEZ Brest companies expand into Asia, Africa, South America

BREST, 12 February (BelTA) – In 2015 resident companies of the free economic zone Brest found new markets in Asia, Africa and South America, BelTA learnt from head of the FEZ Brest economic development department Vadim Povolansky.

The FEZ residents injected a total of Br750 billion in production. About Br540 billion went into fixed capital, with $40.8 million of foreign investment attracted. The companies of the FEZ Brest sold to 65 countries, including six new markets last year. The first batches of goods produced in the FEZ Brest went to Iran, Mongolia, Uruguay, Guinea, Japan, Trinidad and Tobago. The export of goods totaled $490 million in 2015.

“This year we will continue our efforts in seeking new partners. In 2015 our companies increased exports to 29 countries. We will work on expanding our presence on the traditional markets as well,” said Vadim Povolansky.

There are 81 resident companies representing more than 20 countries registered in the FEZ Brest. Last year the FEZ Brest welcomed seven new companies from Belarus, Russia, Ukraine and Poland. The companies are engaged in the production of building materials, equipment for the utilities services, the agro-industrial complex, the production of medications and champignons.

The Brest investment platform develops chemical, pharmaceutical, woodworking, light and food industries, mechanical engineering and many more. In 2015 the companies of the FEZ Brest transferred almost Br1.8 trillion to the budget.

Belarus’ first economic zone was founded in Brest in 1996. Today its representatives are also based in Baranovichi, Pinsk, Kobrin and Brest District.

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