This article contains wording that promotes the subject in a subjective manner without imparting real information. (January 2024) |
Free economic zone (FEZ) Grodnoinvest is an investment platform in Belarus. Situated at the crossroads of the European and Eurasian Economic Unions, Europe and Asia, it's 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 Residents | More than 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. During the period of the FEZ's activity, $2+ billion of investments were attracted from 35+ countries. The FEZ has created attractive conditions for export-oriented companies. The turnover of residents of FEZ Grodnoinvest exceeded $2 billion. The largest sales markets for residents of FEZ Grodnoinvest include Russia, the countries of the European Union, Kazakhstan. In total, the export geography includes more than 65 countries. FEZ Grodnoinvest residents export a wide range of products of the chemical industry (acids and anhydrides, polyesters, fertilizers), agriculture (rapeseed and soybean oil), woodworking (wood-shaving and fibreboards, furniture), light industry (hosiery), mechanical engineering and metalworking (wires, auto components), etc.
Attractive conditions for the investors are included tax, customs and other preferences. 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.