Mogilev Oblast raises over $33m in FDI in Q1

MOGILEV, 3 June (BelTA) – Mogilev Oblast has raised over $33 million in foreign direct investments in Q1 2011, Chairman of the Mogilev Oblast Executive Committee Piotr Rudnik told BelTA at a press conference on 3 June.

He noted that the pace of attracting foreign direct investments into the regional economy is encouraging. While in January-February 2011 the oblast received only $3.9 million in FDI (or 0.7% of the annual target), in January-March the region got over $33 million in FDI (or 5.8%).

“Of course, this is far from the ambitious plan we have set, which is to raise $567 million in foreign direct investments, but if we compare it with the last year’s figure - $50 million – we see that the process is gaining momentum. Besides, the investment portfolio of Mogilev Oblast contains projects that can secure the accomplishment of the goal,” Piotr Rudnik said.

They include a project to construct a ?70 million woodworking complex in the FEZ Mogilev and a project to build a sugar refinery near Bobruisk which can bring about ?300 million of Polish investments into the regional economy.