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Export by free economic zone Minsk’s resident companies 51% up in H1 2021

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MINSK, 23 August (BelTA) – The free economic zone (FEZ) Minsk has summed up performance of its resident companies in H1 2021. Their export rose by 51% in comparison with H1 2020, with fixed-capital investments up by 38%, BelTA has learned.

FEZ Minsk resident companies’ export rose by 51% to $847.6 million. In comparison with H1 2021 their industrial output rose by 61% to Br2,866 million, proceeds from sales by 58% to Br2,991 million, and fixed-capital investments by 38% to Br153 million in comparable prices. The companies received $57.3 million in net foreign direct investments.

FEZ Minsk resident companies reported an aggregate profit of Br182.5 million. They paid Br216 million in taxes, duties, and levies, 16% up from H1 2020.

In January-June 2021 FEZ Minsk resident companies hired 594 people to do new jobs. The average total number of people employed by the resident companies stands at 24,718.

The free economic zone (FEZ) Minsk was founded in 1998. Since then it has become a leading industrial hub and has raised investments to the tune of over $2 billion. FEZ Minsk resident companies exported over $12 billion worth of merchandise of their own make. Over 26,000 jobs have been created as well. As many as 45 modern plants and factories have been built and the necessary engineering infrastructure has been created in FEZ Minsk. At present FEZ Minsk is home to 116 resident companies. They specialize in various branches of the production sector. The main ones are mechanical engineering and metalworking, automobile engineering, production of construction materials, electronics, and printing.

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