“The volume of fixed capital investments in Mogilev Free Economic Area over the year 2008 totaled BYR74.5 billion”, - the head of Mogilev FEA Anatoly Bunos told the correspondent of the site. Including $25.8 million in foreign investments ($23 million of this was direct foreign investments). In 2007 Mogilev FEA drew BYR14.978 billion into fixed capital. In 2008 eight new resident –companies entered Mogilev Free Economic Area.
According to the head of Mogilev FEA administration, the considerable growth of investments and residents has been possible due to the Edict of the President of the Republic of Belarus from January 2008 No42 “On insertion of supplements and changes to some edicts of the President of the Republic of Belarus on the question of FEA activity”. Anatoly Bunos remarks that the Edict has considerably increased investments attractiveness of FEAs of Belarus, improved business climate of FEA residents activity and, what is very important, guaranteed the investors legislation stability.
The target of Mogilev FEA administration for the year 2009 is to increase the number of residents to 30 companies and to draw BYR103 billion of investments. The territory of FEA is also to be expanded to 500 hectares by joining the lands situated in Mogilev region.
Mogilev FEA was founded on the 31st January, 2002. Currently it has 20 resident companies, eight of them were registered in 2008.