Regional Executive Committee Meeting: Br1.2 billion in investments attracted to the Vitebsk region's economy in January-July
"For January-July, Br1.2 billion of investment in fixed assets was attracted to the economy of the Vitebsk region. The growth for January-August reached 111%, while last year this figure was 112%," stated the head of the department.
According to Anzhelika Nikitina, since 2016, the region has managed to overcome the trend of annual reduction in investment volumes: on average per year, Br1.8 billion is attracted, which is 1.3 times higher than in the previous five-year period (in 2011-2015, the volume of attracted investment was approximately Br1.6 billion annually). All districts have approached this issue very responsibly, including a number of those where certain indicators were below the national average. Today, they are all improving their situation. For example, in the Senno district, an investor atlas has been developed, an investment project for dairy production is being implemented, and there is an investment project for trout farming.
The FEZ site remains in demand among investors. The "Bremіno-Orsha" special economic zone has been created for the long term. Business activity has increased. Many sites for promising investment projects are being considered by both local and foreign investors. At the same time, districts should be more active in their work, including informing about their tourism potential and available offers.
The Chairperson of the Committee considers the implementation of projects based on public-private partnership to be an effective tool for attracting investment. "This tool of cooperation, taking into account the potential of small and medium-sized businesses and available preferences, has all the prerequisites for development, primarily in the Orsha and Polotsk districts, Vitebsk and Novopolotsk, large district centers, and districts focused on creating modern tourist facilities," believes Anzhelika Nikitina. As an illustrative example, she cited the Miory project for the creation of a cardiology center.
Chairman of the Vitebsk Regional Executive Committee Nikolai Sherstnev emphasized that the issues of increasing the efficiency of cities and districts by attracting investment in fixed capital are key. In his opinion, there are shortcomings in each district, so local leaders must analyze the work of their teams in this area and take all measures to rectify the situation. "All districts are subsidized today. Yes, there is a gradual decrease in subsidization, but an active decrease in this parameter is directly related to attracting investment in fixed capital. Large cities should show particular activity, as they have the most opportunities for this," concluded the head of the region.