Over the six months 2008 the resident companies of the Free Economic Zone (FEZ) Vitebsk exported products worth of $61 million, almost up 1.5 times over the same period last year, BelTA was told in the FEZ administration.

The non-CIS countries accounted for more than 60% of the total exports, Russia for around 30%. Major exports were machinery construction, fuel and light industries goods.

In H1 this year, the resident companies reported the output of Br225 billion. Capital investments amounted to almost Br12 billion. In addition, resident companies attracted over $8.5 million of foreign investment for investment projects. 90% of them were foreign direct investments.

This year the FEZ Vitebsk welcomed two new residents. The Wooden House Company will manufacture frame houses using the Canadian technology. The investments under the project reach $10 million. The foreign company OST-Stankoprom has already raised $450,000 to set up the high-tech production of metal working. In Q3 the company plans to make the first tools for forge-and-pressing works which are unmatched in the CIS. By the end of the year the German investor plans to put another $500,000 into the production development.

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