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FEZ in Brest investments up 17.9% in H1

In H1 2009, capital investments in the Brest Free Economic Zone (FEZ) amounted to Br91.2 billion, up 17.9% from the same period last year, FEZ administration told. 

The largest projects have been carried out by Gefest Technika, Santa Bremor and Belineko companies (66% of the total investments). Some Br4.3 billion was allocated from the national budget for the FEZ infrastructure development according to the national investment programme for 2009. 

In H1 2009, Brest FEZ received $24.6 million of foreign investments, $12.9 million of which was raised under investment projects (out of the $25 million projected for 2009). Foreign direct investments made up $9.4 billion (62.7% of the annual projection) 

In January-May industrial output of the FEZ companies totalled Br687.5 billion in comparable prices (75.2% as against the same period of last year). In H1 2009, the FEZ exports amounted to $132.6 million (60.7%), import to $129.2 (67.2%). Brest FEZ had a trade surplus $3.4 billion. 

Brest FEZ was created on 20 March 1996 and is the first free economic area in Belarus. The FEZ residents mainly export foodstuffs, furniture, gas cookers, vehicles and paints for road marking. Today there are 64 companies - residents in the FEZ, including 46 companies with foreign capital. The FEZ employs 11,800 people. As of 1 July 2009 the wages averaged Br890,500.



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