Free Economic Zones in Belarus
In Belarus, there are seven Free Economic Zones (FEZ) established:
- FEZ Brest
- FEZ Vitebsk
- FEZ Gomel-Raton
- FEZ Grodnoinvest
- FEZ Minsk
- FEZ Mogilev
- Great Stone Industrial Park
- High Tech Park (HTP)
The Free Economic Zones offer companies the opportunity to work in special and favorable conditions, with tax benefits, customs preferences, and other advantages. Currently, about 1,200 resident companies operate in these zones, employing over 65,000 people. The total investments in the projects exceed 1.5 billion dollars and come from more than 30 countries worldwide.
Free Economic Zones are considered efficient models of administrative and economic management, with the goal of promoting local development and attracting foreign investments and advanced technologies. Resident companies enjoy tax benefits for the first seven years after registration, including tax-free profits for five years, followed by a 50% discount, not exceeding 12%. A 50% discount on VAT is also applied, but it does not extend to the reduced rates of 10% and 0%. Goods produced within the zones can be freely exported, and there are preferential terms for land leasing and handling currency earnings.
The Great Stone Industrial Park is located in the heart of Belarus, with well-developed transport links, including the international highway Moscow-Berlin (M1 / E30) and the Minsk International Airport 1 km away. Companies from 15 countries are implementing various projects in the park, covering industries such as mechanical engineering, electronics, fine chemistry, biotechnology, new materials, logistics, pharmaceuticals, e-commerce, and more.
High Tech Park (HTP) is a Technology Park focused on IT. As of July 2023, there are 887 registered companies, 60,000 developers, 40 types of businesses, and over 100 research and development centers. In 2021 alone, foreign investments reached 600 million dollars, with a production value of 9 billion dollars.