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Free economic zone (FEZ) Grodnoinvest is an investment platform in Belarus. Its primary objective is to attract foreign investment to the Republic of Belarus.
| Year Founded | 2002 |
|---|---|
| Total Territory | 4156 ha |
| Cities in Grodno Region | Grodno, Lida, Schuchin, Smorgon, Mosty, Slonim, Novogrudok, Svisloch |
| Number of Resident Companies | >70 |
| Management | Administration of FEZ Grodnoinvest |
The residents of FEZ Grodnoinvest are the companies in the field of woodworking and furniture production, mechanical engineering and metalworking, food, chemical and light industries, and agriculture. Since FEZ's founding, over $2 billion of investments have been attracted from 35+ countries.[1] According to reports, the turnover of residents within FEZ Grodnoinvest exceeded $2 billion.[2] The primary export markets for these residents include Russia, European Union countries, and Kazakhstan, with exports reaching over 65 countries. The range of exported products from FEZ Grodnoinvest residents encompasses items from many industries, including chemicals (such as acids, anhydrides, polyesters, and fertilizers), agriculture (e.g., rapeseed and soybean oil), woodworking (including wood-shaving and fiberboards, furniture), light industry (hosiery), and mechanical engineering and metalworking (such as wires and auto components).[3]
To attract investors, investors are exempt from paying income tax, real estate tax, rent for land plots that are provided without an auction, payment of customs duties, taxes and non-tariff regulation in relation to foreign goods imported into the territory of the FEZ, payments for the right to conclude a lease agreement for a land plot provided for the implementation of an investment project, reimbursement of forest and agricultural losses in the seizure of agricultural land and forest land, and their provision to FEZ residents for the implementation of investment projects.[4][5]
References
edit- ^ "Free Economic Zones (FEZ)".
- ^ "Presentation | Grodnoinvest FEZ". FEZ Grodnoinvest. Archived from the original on 2024-06-16. Retrieved 2024-12-17.
- ^ "The administration of FEZ Grodnoinvest was awarded the Certificate of Honor of the Grodno Regional Executive Committee". December 22, 2022.
- ^ "Free Economic Zones". belarusfacts.by. Retrieved 2024-11-21.
- ^ "Free Economic Zones (FEZ)". law.by. Retrieved 2024-11-21.