In January-June 2020 the free economic zone Minsk received more than $118 million in foreign investment, of which 85% was direct foreign investment, BelTA learned from the FEZ Minsk administration.

Foreign direct investment on a net basis amounted to $69.4 million, a 76% increase over the same period in 2019. Switzerland, Cyprus and China were the key investors. Capital investment amounted to $50.8 million in equivalent, up 31% year-on-year.

“In January-June, the export of goods was estimated at $559 million. Shipments to non-CIS countries increased significantly and made up $185.5 million, up 27.5% year-on-year,” the FEZ administration said.

The foreign trade surplus amounted to $83.6 million.

In H1 2020 FEZ Minsk resident companies paid $186.3 million in taxes, duties and fees to the budget and extra-budgetary funds, up 17% year-on-year. A total of 482 jobs were created. The average number of employees of all FEZ resident companies is 24,425 people (up 1.2% year-on-year).

FEZ Minsk was founded in 1998. Over the period of its activity it has become a leading industrial center and attracted over $2 billion in investment. About 120 resident companies are registered there. The bulk of FEZ Minsk companies specialize in mechanical engineering and metalworking, chemical and petrochemical industry, forestry and construction. Investors from more than 20 countries have invested in business in the FEZ zone. FEZ Minsk resident companies sell their goods to 70 countries.