The Ministry of Economy Announced the Results of the FEZs Work in 2020

According to the data of the Ministry of Economy of the Republic of Belarus, in 2020 the FEZs attracted a record volume of direct foreign investment on a net basis. Five percent of the country GDP was formed.

Free economic zones enterprises-residents employ 5 percent of the country average employment. The share of FEZ residents in republican indicators at the end of 2020 accounted for 23 percent of direct foreign investment on a net basis (plus 6.7 percentage points by 2019), 20.4 percent of goods exports (plus 3 percentage points) and 16.6 percent of industrial production (plus 1.3 percentage points). FEZ residents formed 4.9 percent of the country GDP. 

As compared with the results of the year 2019, foreign direct investment growth was achieved on a net basis by one and a half times (up to $ 307 million), industrial production and sales revenue by 10 percent (up to RUB 19.3 billion and RUB 21 billion, respectively), taxes, fees and payments paid by residents of the FEZs by 4.1 percent (up to 1.4 billion rubles), export of goods by 2.2 percent (up to 5.9 billion dollars).

Depending on the FEZ, the residents formed up to 85 percent of investments, up to half of the export of goods and a third of the industrial production of the regions. 

In the context of restrictions on doing business caused by the global pandemic and the presence of foreign exchange liabilities for individual residents of the FEZ, the net profit for the FEZ as a whole decreased to 43.1 million rubles in 2020. 

In organizations-residents of the FEZs the average monthly salary of employees increased by 13 percent (up to 1226 rubles). At the same time, for all FEZs, wages are higher than the average for the regions in which they are located (up to 22 percent). 

During 2020, the FEZs attracted 43 new residents with a total volume of declared investments of about $ 200 million, of which about half - with foreign capital.

Reference: As of January the 1st, 2021, 440 business entities were registered as the FEZs residents/ The investment projects are being implemented with the attraction of investments from more than 30 countries for a total amount of declared investments of about $ 7 billion.