Business news

BREST, 26 April (BelTA) – Investment agreements worth over Br20 million were signed at the 3rd International B2B Contact Fair Brest 2018 on 26 April, BelTA has learned.

The agreements were signed during the opening ceremony of the forum. The Brest Oblast Executive Committee signed an investment agreement with Silicon Materials, Inc. (Pennsylvania, the USA) to expand the operations of the Belarusian-US joint venture KamSil in Pinsk producing silicon wafers for electronic components. The joint venture plans to invest more than $3 million in the construction of new manufacturing facilities. OOO Netkany Mir also inked an investment agreement to ramp up the production by investing over Br2 million. The enterprise produces filters for dairy farming and is situated in Pruzhany.

Another agreement was signed with Belarusian Railways. The cargo traffic between East and West that goes mainly through Brest has increased and Belarusian Railways intends to enhance its infrastructure. There are plans to invest over Br11 million at the first stage.

The Brest Oblast Executive Committee singed cooperation agreements with Podlaskie Province of Poland and with SCO Business Club to boost business contacts between the parties. Besides, the Brest Branch of the Belarusian Chamber of Commerce and Industry concluded cooperation agreements with the Polish-Belarusian Chamber of Commerce and the Chamber of Commerce and Industry of the Kabardino-Balkar Republic (Russia).

More than 100 foreign guests from 18 countries are taking part in the 3rd International B2B Contact Fair Brest 2018.

Welcoming the participants of the event, Chairman of the Brest Oblast Council of Deputies Yury Narkevich noted that the forum gains momentum every year welcoming more and more participants from a greater number of countries, which proves its importance and viability.

“Brest Oblast has been working to promote business, to implement projects aimed at producing competitive goods, to introduce innovations, expand sales markets and to set up joint ventures. Nowadays Brest Oblast is home to 277 enterprises with foreign capital. And it is important that this number grow every year. One of the priorities of our work is to create favorable environment for business, provide full support to investment projects in the region,” said Yury Narkevich.

The opening ceremony was followed by thematic sections and a business matchmaking event.