Region

FEZ Gomel-Raton attracts USD 28.7 million of investments in 2005

Resident companies of the free economic zone Gomel-Raton attracted USD 28.7 million of investments in 2005, including USD 10.5 million of foreign investments, FEZ administration representatives told BelTA. Since the FEZ foundation it has attracted USD 102.9 million of investments. According to the source, in 2005 fixed-capital investments totalled Br 40.8 billion (an equivalent of USD 18.9 million). In view of the money spent by the central state budget to accomplish the zone infrastructure, last year's fixed-capital investments made Br 42.1 billion. On the whole, since 1998 FEZ residents have invested Br 103.8 billion in fixed capital, with most of the sum spent on new equipment, machinery, and construction and installation works. In 2005 FEZ resident companies increased their output by 10.8 per cent up on 2004 to a total of Br 228.5 billion. To compare, last year's increase in Gomel region output made 7.3 per cent, the city of Gomel output increase — 10.3 per cent. Sales proceeds went up by 21.8 per cent to make Br 230 billion in 2005. Sales of proprietary products accounted for 93.5 per cent of the earnings. The return on sales made Br 16.2 billion. Last year FEZ resident companies paid Br 26.7 billion, 25.6 per cent up on 2004, in taxes, dues to the budget and non-budgetary funds. FEZ Gomel-Raton was set up in line with the Belarusian president's decree #93 of March 2, 1998 for a fifty-year term. In early 2006 there were 36 resident companies in the FEZ, including four companies registered in 2005. The workforce of the resident companies makes around 5,400 people. Last year 234 new jobs were created in the free economic zone.