Mogilev Oblast to raise $145m in FDI in 2013

MOGILEV, 18 December (BelTA) – Mogilev Oblast is set to raise $145 million in foreign direct investment in 2013. The oblast’s plans are two times higher that its 2012 expectations, Chairman of the Economy Committee of the Oblast Executive Committee Nikolai Dudinsky told BelTA. The oblast has already received proposals envisaging over $60 million of investment. Five of them envisage investment exceeding $40 million. “High hopes are on the operation of the FEZ Mogilev and the implementation of big projects such as the development of VMG Industry’s woodworking cluster, modernization of the region’s petrochemical giants, Mogilevkhimvolokno, Belshina and other companies,” Nikolai Dudinsky said. At the same time the economy committee sets forth a task to intensify work on attracting foreign capital in all the towns and regions of the oblast. Every region has been tasked with developing industrial zones and engineering infrastructure for drawing attention of potential investors. “It is important to note that the discussion of the forecast has not touched off arguments and contradiction from the authorities of the regions and the leadership of the companies. Today everyone understands how important the issue is. Addressing this issue will allow us prompt modernization of the industrial sector, increase the production of competitive goods and enhance the export potential of the economy in general,” Nikolai Dudinsky stressed.

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