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Business news

2 Mar 2016

Plans to set up Italian business incubator in Brest

BREST, 2 March (BelTA) – An Italian business incubator may be set up in Brest, Oleg Khvalyuk, deputy head of the administration of the Free Economic Zone Brest, told BelTA.

“There is a mutual interest in intensifying contacts and more intensive development of the Italian Industrial District. For example, the Italian partners have proposed the establishment of a business incubator in Brest in order to make it easier for Italian companies to work on start-up projects. We have supported this idea,” said Oleg Khvalyuk.

The business incubator will help new enterprises with the Italian participation in the early stages of projects and will facilitate access to consulting, legal and other services.

Resident companies of the free economic zone with the status of Belarusian enterprises are free to supply their products to the entire Eurasian Economic Union.

“We are ready to consider any new projects that the Italian partners will offer. Investors are primarily interested in the EEU market of about 200 million customers. From this point of view, they view Belarus as a manufacturing platform. Not least important are our highly skilled staff, and favorable business doing conditions,” Oleg Khvalyuk noted.

The Italian Industrial District was established in the Free Economic Zone Brest in accordance with the memorandum signed between Italy and Belarus in 2011. A land plot with the area of 26 hectares with the necessary engineering and transport infrastructure has been allocated for the project. Today there are three companies with the Italian capital. They produce auto window shades, components for refrigerating equipment, and parts for the production of concrete products.

All in all, there are 80 resident companies from more than 20 countries in the Free Economic Zone Brest. For over 20 years of experience the FEZ Brest has raised more than $1.2 billion in foreign investment.

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