Business news

Investor from Congo to launch match stick production in Vitebsk Oblast

Photo courtesy of pinskdrev.by

MINSK, 23 January (BelTA) – A new company, Belmatch, has been registered in Belarus to start the production of match sticks. The project of a foreign investor is supported by the National Agency of Investment and Privatization (NAIP), BelTA learned from the NAIP.

The NAIP started cooperating with SOCALCO SARL (Congo), which makes part of DEWJI International Group headquartered in the UAE, in August 2019. Then the investor showed an interest in the project. The NAIP helped organize visits of the potential investor to Belarus to discuss the project with stakeholders.

The company decided to set up a production facility in Vitebsk Oblast and considers the Vitebsk Free Economic Zone with its preferential regime as the main site for business.

“The foreign company's project is to launch the production of match sticks to be exported for further processing. SOCALCO SARL is the largest matchmaking company on the African continent,” said the NAIP.

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