Committee of Economy: in the first half of the year, foreign investors invested more than $383 million in the economy of the Vitebsk region
For the first half of the year, foreign investors injected over $383 million into the real sector of the Vitebsk region's economy, with more than 94% of this amount directed to the manufacturing industry. This was reported by the economics committee of the regional executive committee.
The most popular sectors among foreign investors were woodworking, food processing, pharmaceuticals, and petrochemicals. Approximately $362 million was invested in the development of manufacturing enterprises, accounting for over 99% of the funds received for the implementation of industrial investment programs.
The amount of direct investment was $66.7 million, or 17.4% of the total foreign investment received. More than a third of these direct investments were provided by residents of the "Vitebsk" free economic zone (FEZ).
Over 86% of foreign investments in the Vitebsk region's economy came from Russia. Businesses from the neighboring country are attracted by both the conditions for locating in the northern region of Belarus and the convenient logistics. Also in the top three leaders are Ukrainian investors (3.9% of the total investment volume) and businessmen from Cyprus (2.7%). Cypriots are mostly residents of the "Vitebsk" FEZ. They make financial contributions to construction, woodworking, the production of coiled tubing equipment for the repair of oil and gas wells mounted on chassis, various car brands, and fiber optic cables.
Representatives of Vitebsk region businesses also invest in enterprises abroad. Of the total volume (over $84 million), more than 86% of investments in the first half of the year were directed to Russia. Domestic investors are most interested in the manufacturing industry.
The most popular sectors among foreign investors were woodworking, food processing, pharmaceuticals, and petrochemicals. Approximately $362 million was invested in the development of manufacturing enterprises, accounting for over 99% of the funds received for the implementation of industrial investment programs.
The amount of direct investment was $66.7 million, or 17.4% of the total foreign investment received. More than a third of these direct investments were provided by residents of the "Vitebsk" free economic zone (FEZ).
Over 86% of foreign investments in the Vitebsk region's economy came from Russia. Businesses from the neighboring country are attracted by both the conditions for locating in the northern region of Belarus and the convenient logistics. Also in the top three leaders are Ukrainian investors (3.9% of the total investment volume) and businessmen from Cyprus (2.7%). Cypriots are mostly residents of the "Vitebsk" FEZ. They make financial contributions to construction, woodworking, the production of coiled tubing equipment for the repair of oil and gas wells mounted on chassis, various car brands, and fiber optic cables.
Representatives of Vitebsk region businesses also invest in enterprises abroad. Of the total volume (over $84 million), more than 86% of investments in the first half of the year were directed to Russia. Domestic investors are most interested in the manufacturing industry.