Business news

MINSK, 23 April (BelTA) – The free economic zones (FEZ) Brest and Gomel will improve conditions for setting up enterprises with Italian capital. The plans are stipulated by the memorandum of cooperation between the free economic zones and the association of Italian businessmen in Belarus (Confindustria Belarus). The document is supposed to be signed during the second Belarusian-Italian green economy forum today, BelTA learned from Paolo Tonini, counsellor for commerce, Deputy Ambassador Extraordinary and Plenipotentiary of Italy to Belarus.

According to the source, the document will simplify business registration and startup procedures in these free economic zones. “The potential for Belarus-Italy economic cooperation is used effectively. Belarus’ advantageous geographic position in the center of Europe and the country’s membership in the Eurasian Economic Union contribute to it as well,” said Paolo Tonini.

Aleksei Lachimov, Head of the Foreign Economic Ties and Economic Development Office of the FEZ Brest administration, explained that Belarusian-Italian agreements on developing an industrial district as part of the free economic zone are already in place. “We hope that the memorandum of cooperation, which is supposed to be signed today, will favorably influence the flow of investments into the free economic zone. The document will be signed with a view to developing the Italian direction at our investment platform,” he said. “We have allocated about 26ha of land with all the necessary infrastructure for Italian investors. We look forward to further investments into pharmaceutics, production of automobile components, and other things. Three companies with Italian capital already operate.”

Belarusian and Italian companies are also expected to sign contracts during the second Belarusian-Italian forum on green economy. Major Belarusian government agencies, specialized associations, representative offices of Belarusian-Italian joint ventures have been invited to attend the forum. The event has been organized to promote the latest accomplishments of the Italian production sector in the area of green economy with a focus on waste management, renewable energy sources (solar and wind power plants), energy effectiveness in civil engineering, industrial construction, agriculture, and smart cities. The event is supposed to deepen and expand bilateral economic cooperation between Italian and Belarusian companies. The forum has been organized by the Embassy of Italy in Belarus in association with Confindustria Belarus and the Belarusian Chamber of Commerce and Industry.