Business interests meet in Lida
How one district manages to attract almost a third of all foreign investments into the Grodno Region
By Sergey Yevmenov
This year, nine districts in the Grodno Region, representing over 100 enterprises, took part in the seventh Lida-Region fair, which coincided with the International Economic Forum. Government bodies, businesses, business associations and various diplomatic missions took part.
The Lida District enjoys over $200m of investments annually, revolving around its powerful industrial complex, covering ten industry sectors. In recent years, it has attracted more than $60m of foreign investments (29 percent of all those in the Grodno Region), with last year proving particularly successful.
In all, 39 organisations jointly founded with foreign capital operate there, including funding from Russia, Lithuania, Latvia, Austria, Germany, Poland, USA, Denmark and Finland. Their profile ranges from ice cream to sophisticated equipment and optical instruments. Currently, negotiations are underway with Lithuanian investors to set up a plant to process recycled materials and to create a joint enterprise for animal waste utilisation. There are a number of suggestions for modern building materials production and house-building. Meanwhile, a nearby site is being discussed for locating a flax processing mill, making linen goods. Taking into account the increasing number of vehicles on our roads, the establishment of modern car servicing for imported cars and trucks is also a promising sphere.
During a presentation on the district, Alexander Ostrovsky, Chairman of the Lida District Executive Committee, noted that capital investments in the creation of roadside services, cultural and tourist centres, and private hotels appear promising. There is great potential for investment in the sphere of tourism: in particular, the development of farm tourism and sports. Both are open to investors.
Berezovka and Glassworks Neman OJSC are keen to attract investors, explains Mr. Ostrovsky. “Creating a better environment for investors is one of the main tasks of the district’s administration. We aim for open and systematic dialogue with all interested parties.”
Other districts participating in the Lida-Region fair also presented interesting investment projects: the Novogrudok District’s wind farm; the Dyatlovo District’s turkey breeding complex; and a transport and logistics centre in Voronovo.