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Investment – one of driving forces of Mogilev region economy growth during current 5-year period

Investment has become one of the driving forces promoting economic growth of Mogilev region during current 5-year period, - the correspondent of the site was told at economy department of Mogilev region executive committee. During the period of 2006 – 2009 total investments volume increased by 217%; during the current 5-year period it is estimated to reach more than 250% (comparing with 216% planned). Attracting investment resources into manufacturing, and their further focusing at high-tech and energy saving projects were among the priorities of the region’s investment policy.

During the current 5-year period a number of new industrial enterprises were founded in the region; among them are RUE “News-print plant”, “Mogilev carriage-building plant”, “STL Exstruzia”, “Staraya krepost”, a subsidiary of “Trud New-Line footwear factory”, “Slavgorodski pischevik”, etc.

“Today the region produces a variety of industrial goods, including 90% of all tractor trailers produced in Belarus, 86% of soft roofing material, about 100% of tulle and fishnet, 98% of wood-working machines, more than 50% of clippers, about 60% 0f cement, 50% of roofing slate, 35% of synthetic fibres, about 50% of silk cloth. Besides, the region supplies the whole of the Republic with lifts and tyres for agricultural machinery”.

Foreign countries are becoming more interested in cooperation with Mogilev region; there is a steady demand in our production at the markets of both neighbouring and foreign countries. The region is engaged in export or import relations with 119 countries; it supplies its production to 86 states. Russia, the Ukraine, Kazakhstan, Germany, Lithuania, Poland are traditionally among our main business partners.

“Taking into account the results of the year 2010 the rates of commodity export growth during the 5-year period makes up more than 190% (comparing with 154-161% planned), that of services – 260% (comparing with 155-162 planned)”.

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