For the six months of 2008, the companies – residents of the Free Economic Zone (FEZ) Vitebsk exported $61 million worth of products, up almost 1.5 times from the same period last year, BelTA learnt from the FEZ administration.

Exports to non-CIS countries accounted for more than 60% of the total. Exports to Russia made up 30%. The bulk of the exports comprised products of the engineering, fuel and light industries.

In H1 2008, the FEZ residents fabricated Br225 billion worth of products in actual prices. Capital investments of the companies-residents reached almost Br12 billion. Besides, more than $8.5 million foreign investments were put in the implementation of the projects. Nearly 90% of them included direct foreign investments.

This year, two more companies have been registered as FEZ residents. The company Derevyany Dom launched the production of frame-houses with $10 million of total investments. The foreign company OST-Stankoprom has already attracted $450 thousand for setting up the production of high-technology metal working equipment. In Q3 2008, OST-Stankoprom plans to showcase first pressing machines that have no analogues in the former Soviet countries. By the end of the year, a German investor is expected to put nearly $500 thousand in the production development.

Founded on August 4, 1999, FEZ Vitebsk has been implementing 31 investment projects with the capital of 13 countries including Germany, the USA, Great Britain, Canada, Czech Republic, Poland and Russia. The total investments exceed $80 million. The companies-residents employ more than seven thousand people. Over 150 working places were created in H1 2008. The territory of the free economic zone comprises seven sectors with the total area of more than 1.2 thousand hectares.