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Liozno District Executive Committee
Main / News / Region


21 October 2011

Deals with foreign investors struck at Vitebsk business forum

VITEBSK, 21 October (BelTA) – The first day of the business forum held in the Belarusian city of Vitebsk was productive, representatives of the Economy Committee of the Vitebsk Oblast Executive Committee told BelTA. 21 October saw representatives of enterprises and local authorities of Vitebsk Oblast sign five protocols of intent and five agreements with foreign investors and companies. The foreign organization Live Green Org Ngo intends to implement a ?1.7 million project for industrial waste processing and biogas production at the Chashniki distillery. The Azerbaijani company Tural K intends to build a drywall production enterprise in Polotsk District, with investments at ?800,000. The foreign company OU Euro Petrol System signed the protocol of intent to build three shopping and entertainment centers and business centers in Vitebsk. Several new facilities may be built in Polotsk soon. IZAO Glera Market has signed an agreement to build a trade center worth $1.4 million while another company intends to build three car wash stations worth a total of ?600,000. The agreement on cooperation in information exchange between the Vitebsk City Executive Committee, the information and consulting association Vitebsk City and Company and the Vidzeme television and radio company (Latvia) will advance economic contacts. The agreements signed by the Vitebsk branch of the Belarusian Chamber of Commerce and Industry and the Liepaja branch of the Latvian Chamber of Commerce and Industry, between the free economic zone Vitebsk and the Confederation of Industrialists of Latvia are expected to promote mutually beneficial cooperation. The second international forum “Innovative business – investments into the future” is scheduled to take place in Vitebsk on 21-22 October. The event is supposed to galvanize cooperation between regions, cities, companies, to contribute to larger export and investment potentials, to encourage joint investment projects, to highlight innovative ideas and products. The forum is organized by the Vitebsk city administration.