Over $ 33 million of foreign direct investment attracted to Mogilev region in 1st quarter

Over $ 33 million of foreign direct investment was attracted to the Mogilev region in the 1st quarter of 2011.

Comment

The Executive Committee of the Mogilev Region plans to attract $ 567 million of FDI in 2011 and it is obvious that this plan is unreasonable, given the entire amount of FDIs in 2010 was approximately $ 45.9 million. However, in comparison with the previous year, a positive trend is notable.

In absolute terms, inflows of foreign investment in the Mogilev region during the three months of this year totaled $ 76.1 million, including foreign direct investment of $ 45.9 million, other type of investment of $ 30.2 million.

Currently, the investment portfolio of Mogilev has two major projects, which the local authorities rely on. Firstly, a project concerning construction of a wood processing plant in the FEZ “Mogilev” with investment of 70 million Euros (an investment agreement was signed with representatives of Lithuania regarding construction of a furniture plant IKEA on the territory of FEZ “Mogilev”). Secondly, a project related to construction of a sugar plant in Bobruisk, or Chaussy areas, which, in case of successful negotiations with the Polish investors can bring about 300 million Euro of investment to the regional economy.