Business news

MINSK, 11 March (BelTA) – The administration of the Free Economic Zone Minsk will invest Br20 billion in the engineering and transport infrastructure of its Fanipol-based sector No.10, BelTA learned from Oksana Verstak, the first deputy head of the administration.

FEZ Minsk presently comprises 21 sectors occupying a total area of more than 2,600 hectares, with 1,000 hectares located within the city limits and 1,600 hectares in Minsk Oblast.

Since the beginning of 2016, FEZ Minsk has seen an increased interest from investors. As many as four new investors got registered with the zone in January-February, while in 2015 there were just six of them. The managing company EROP-ETS is implementing a large-scale project in 2016 with more than $7 million in Swiss and Turkish investments. The company provides consultations on information technologies, including financial process management software and e-document management systems, in order to establish product flows and financial logistics at the transport and logistics complex Prilesye.

Some $2 million will be invested in OOO MultiMPS for the implementation of the project to build a plant near Fanipol to manufacture steel constructions for various applications.

OOO Precision Mechanics will set up an advanced, export-oriented high-precision metal-working manufacture of parts for a wide range of industries (aeronautics, space, nuclear, healthcare and pharmaceutics, instrument-making, auto-industry, mechanical engineering, oil production).

IZAO FerroliBel is going to launch the production of a broad spectrum of electric water heaters (boilers).

Free Economic Zone Minsk was established in 1998 with the aim of attracting domestic and foreign investments for the development of enterprises on the basis of new and high technologies, ensuring a favorable environment for economic development of Minsk Oblast. FEZ Minsk has more than 120 resident companies with Belarusian and foreign investments. Some 24 countries have already invested in FEZ Minsk, 59 countries import products made there. Since the establishment of FEZ Minsk, its resident companies have built or reconstructed 33 plants. Some 20 plants are under construction and reconstruction, another eight are at the stage of design. The main industries in FEZ Minsk are engineering and metalworking, woodworking, chemical and petrochemical industries, printing industry, communications and building materials industries and logistics.