26 May 2003
Brest free economic zone yielding $12 per dollar invested
Each dollar invested in the Free Economic Zone (FEZ) "Brest" currently yields $12 in return, said Valery Rainchik, first deputy head of the FEZ administration, while speaking at a conference on the role of FEZs in improving the country's economic situation.
The FEZ in Brest, the country's oldest, was exposed to all flaws in FEZ-related regulations when it was established in 1997, said Mr. Rainchik.
He said that the zone, which was built in a vacant area and had to build every utility line, differed considerably from Gomel-Raton, which is situated in Gomel's so-called northern industrial center that
comprises large industrial enterprises such as Korall, Raton and Gomelkabel.
The Brest FEZ has 95 resident enterprises that employ 6,500 people, according to Mr. Rainchik. The declared investments total $120 million and $90 million of the amount has already been invested.
Mr. Rainchik said that the zone's economic performances ranked it third among the region's areas after the city of Baranovichi and the Leninsky district in Brest.
http://brestonline.com/en/news/news412.html