FREE ECONOMIC ZONE (FEZ)
Free economic zone “Minsk” (FEZ “Minsk”) is a part of the territory of the Republic of Belarus with strictly defined boundaries and a special legal regime establishing more favorable conditions for carrying out production activity.
Established in 1998 it was aimed at attracting domestic and foreign investments, creating and developing production facilities based on new and high technologies, increasing the number of workplaces and the export capacity, intensifying external economic relations, providing favorable conditions for the economic development of Minsk and Minsk region.
Having 21 years’ experience behind, Minsk free economic zone has contributed effectively to the economic development of Minsk and Minsk region. Thanks to FEZ Minsk a favorable investment climate was created, a huge volume of investments was received, a great number of workplaces was created, and the trade and economic relations with different countries of the world were strengthened.
Due to the constant development of infrastructure, construction of new plants and surrounding territory, Free economic zone Minsk has become the dynamically developing industrial center of Minsk region.
The management body in the territory of Minsk free economic zone is the state institution "Administration of Free Economic Zone "Minsk" (FEZ Minsk Administration) that works on the One-Stop Shop principle and guide an investor at every step of his business launch.
The main activities of FEZ Minsk administration:
- acts as the customer on design and construction of objects of production, engineering, transport and other infrastructure within the FEZ borders;
- carries out advertising, information activities in the Republic of Belarus and abroad in order to highlight the conditions of doing business in the FEZ and attract foreign and national investors;
- studies investment proposals offered for implementation in FEZ Minsk;
- carries out the state registration of legal entities and individual entrepreneurs in the FEZ, except banks, non-Bank financial institutions, insurance companies, insurance brokers, associations of insurers;
- concludes (prolongs) contracts on the conditions of activity in the FEZ and monitors their performance;
- registers legal entities and individual entrepreneurs as FEZ residents in accordance with the procedure established by the legislation on free economic zones;
- represents the interests of the FEZ in relations with state bodies and other organizations;
- in agreement with the customs authority decides on the definition of the limits of the free customs zone (FCZ), the abolition of the free customs zone for every FEZ resident;
- makes a decision on the loss of the status of a FEZ resident by legal entity or individual entrepreneur.