Investments

For the development of the economy and social sphere of the oblast in 2019, 2 547.9 million rubles of investments in fixed assets were used, which amounted to 106.2% of the level of 2018.

In 2019, 816.4 million rubles, or 32% of the total investment in fixed assets, were allocated for the reconstruction and modernization of existing fixed assets.

The main sources of financing are organizations' own funds (35.5% of the total investment), bank credits (loans) (30%) and consolidated budget funds (16.3%). The share of foreign sources (foreign investment, credits (loans) of foreign banks and loans under foreign credit lines) in investments in fixed assets is 6.9%.

The main directions of attracting foreign investment are petrochemical and agro-industrial complexes; production of electrical equipment, electronic and optical equipment, building materials; pharmaceuticals, transport logistics, deep wood processing, tourism and leisure industry.

Vitebsk Oblast Executive Committee concluded 217 investment agreements with project implementation dates until 2024 for a total amount of about 4.2 billion rubles.

94 investment agreements were implemented, with funds for them amounted to about 582.9 million rubles. 35 investment contracts are underway.