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VITEBSK, 21 April (BelTA) – The Vitebsk Oblast Executive Committee has recently signed 34 investment agreements worth nearly Br490 billion. These are the results of Decree No. 10 “On Creating Additional Conditions for Investment Activity in the Republic of Belarus” that took affect a year and a half ago, BelTA learnt from head of the department for investment of the Economy Committee of the Vitebsk Oblast Executive Committee Natalia Saltanovich. One third of the agreements amounting to $147,000 were concluded with foreign investors. The largest investment projects will be implemented at the Ekomol Company in Orsha District, the construction of a trading center along the Beshenkovichi highway in Vitebsk, colza seeds processing at the GlubokoyrBioProduct. According to Natalia Saltanovich, Decree No.10 has simplified interaction between investors and authorities. While concluding contracts, no business plans and due diligence reports of the investment projects are required. In April this year alone, the Vitebsk Oblast Executive Committee signed six investment contracts to be implemented during 2011-2013. For example, the GidroEnergoInvest foreign enterprise intends to invest $1.5 million to build a small hydroelectric power station on the spillway of the Dolomit pit. The NTS joint venture will implement the project “Construction of the shopping center of the total area of 3,000 square meters in Vitebsk”. The project is estimated at $3.6 million. MegaOil is going to build a roadside service center which will include a parking area, a hotel for 20 places, a restaurant, and a gas station. Investment will amount to Br15 billion.

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