Business news

MOGILEV, 2 February (BelTA) – In the last five years, Mogilev Oblast attracted around $1.5 billion in foreign investments, including $950 million in FDI, Mogilev Oblast Governor Vladimir Domanevsky noted at a session dedicated to the region’s 80th anniversary on 2 February, BelTA informs.

“Mogilev Oblast attracted such a large volume of investments thanks to a favorable investment environment. It is not by chance that Mogilev Oblast is among the best regions in Belarus in terms of enabling favorable conditions for business,” the official stressed.

Nearly 50 big investment projects are being implemented in the region at the moment. The FEZ Mogilev has become a driver for investments in Mogilev Oblast’s economy. The oblast center has been developing together with the regions. Servolux (Mogilev District), Belzarubezhstroy (Krichev), Technonicol (Osipovichi), and other private companies keep up with large industrial flagships. Most products they make are bound for export.

According to Vladimir Domanevsky, Mogilev Oblast maintains trade and economic relations with 116 countries. In 2017 alone, the region branched out into another nine markets. “Thanks to our active foreign economic policy and promotion of Belarus’ products on new markets, we ensure a trade surplus in goods and services, which reached almost $1 billion in 2017. This is one of the best results in the country,” the governor underlined.