Lukashenko orders not to expand free economic zones in Belarus
<p> MINSK, Jun 24 - PrimePress. President of Belarus Alexander Lukashenko has given an instruction not to expand free economic zones in Belarus. He made a statement to this effect on June 24 while making a business trip to Grodno Oblast, the president’s press-service reports. </p> <p> </p> <p> “It is necessary to ‘freeze’ these free zones, I mean, we should no longer expand them. Only in a targeted manner. If someone brings high technologies, we will offer them the same benefits as in free economic zones. But we do not need to scale them up all over the country and put enterprises in unequal conditions,” said Lukashenko. </p> <p> </p> <p> “Think about it and submit proposals on how to stop it. We do not have that many investors who will need soft terms. We can do this on a case-by-case basis,” Lukashenko said. </p> <p> </p> <p> There are FEZ Brest, FEZ Minsk, FEZ Gomel-Raton, FEZ Vitebsk, FEZ Mogilev, FEZ Grodnoinvest operating in Belarus. FEZ resident companies enjoy more favourable conditions for investment and entrepreneurial activity than elsewhere in the country. Free economic zones have been designed to attract a potential investor with a special tax regime. </p> <p> </p> <p> Belarus’ FEZ residents reduced their net profit by 24.8 times year on year in 2020 to Br43.1 million ($17 million at the exchange rate of the National Bank of Belarus). The sales revenues of Belarusian FEZ enterprises increased by 10.3% to Br20.971 billion ($8.27 billion) in 2020. End ($1/Br2.5362) </p> <p> </p> <p> </p>
2021-06-25
Primepress
Lukashenko orders not to expand free economic zones in Belarus
MINSK, Jun 24 - PrimePress. President of Belarus Alexander Lukashenko has given an instruction not to expand free economic zones in Belarus. He made a statement to this effect on June 24 while making a business trip to Grodno Oblast, the president’s press-service reports.
“It is necessary to ‘freeze’ these free zones, I mean, we should no longer expand them. Only in a targeted manner. If someone brings high technologies, we will offer them the same benefits as in free economic zones. But we do not need to scale them up all over the country and put enterprises in unequal conditions,” said Lukashenko.
“Think about it and submit proposals on how to stop it. We do not have that many investors who will need soft terms. We can do this on a case-by-case basis,” Lukashenko said.
There are FEZ Brest, FEZ Minsk, FEZ Gomel-Raton, FEZ Vitebsk, FEZ Mogilev, FEZ Grodnoinvest operating in Belarus. FEZ resident companies enjoy more favourable conditions for investment and entrepreneurial activity than elsewhere in the country. Free economic zones have been designed to attract a potential investor with a special tax regime.
Belarus’ FEZ residents reduced their net profit by 24.8 times year on year in 2020 to Br43.1 million ($17 million at the exchange rate of the National Bank of Belarus). The sales revenues of Belarusian FEZ enterprises increased by 10.3% to Br20.971 billion ($8.27 billion) in 2020. End ($1/Br2.5362)