Belarus’ FEZ raise record amount of FDI on net basis

Resident companies of free economic zones have raised a record amount of foreign direct investment on a net basis, BelTA learned from the press service of the Economy Ministry.

“In the first quarter of 2022, FEZ resident companies attracted a quarter of all foreign direct investment on a net basis that came to Belarus, exported a quarter of all goods, accounted for a fifth of the country’s industrial output,” the press service said.

Resident companies of the free economic zones significantly improved their performance compared to the same period last year. FDI on a net basis increased 2.3 times (up to $469 million), industrial output and sales proceeds rose 1.3 times (up to Br7.4 billion and Br7.7 billion respectively), exports of goods went up 1.2 times (up to $2 billion) and the average monthly salary rose up to Br1,560. In general, the FEZ companies did pretty well financially: their total net profit exceeded Br285 million.

“Territories with preferential regimes actively contributed to regional development. Depending on the FEZ, resident companies generated up to 80% of investments, up to 58% of exports of goods and up to 40% of the industrial output of respective regions and the city of Minsk,” the Economy Ministry noted.