Private unitary production enterprise Grand Wight Service entered Minsk Free Economic Zone as a new resident, the FEZ Administration stated.
The company intends to implement an investment project on construction of a plant for glued laminated timber production in Minsk FEZ. According to the contract, the declared volume of investments is not less than 1.57 million euros. The project is expected to create at least twenty two jobs.
Private unitary production enterprise Grand Wight Service has become the fifth enterprise-resident of Minsk Free Economic Zone in the current year. Experts note the intensification of activities of investors in 2016, as 4 of them have been already registered in January and February of this year. While in 2015 only 6 residents started their businesses.
Minsk Free Economic Zone was created in 1998 in order to attract domestic and foreign investments for the creation and development of industries based on new and high technologies, to ensure favorable conditions for the economic development of the region. More than 124 companies with Belarusian and foreign investments operate in Minsk FEZ. 24 countries have already invested their capital in FEZ enterprises, 59 countries import FEZ products. Since the creation of a zone for organization of production the residents have built and reconstructed 33 plants. There are 20 plants under construction and reconstruction on the FEZ territory; 8 plants are at the design stage. The main industries in which the enterprises of Minsk FEZ operate are mechanical engineering and metalworking, woodworking, chemical and petrochemical industry, printing industry, communication industry, also building materials, and logistics. Currently, Minsk FEZ is located on 21 sites with total area of 2.6 thousand ha, including within the city – about 1 ha, and in Minsk region – 1.6 ha.
Source: BelTA