A New FEZ "Vitebsk" Resident with Lithuanian Capital

The latest FEZ "Vitebsk" resident is "VMG WoodArt" LLC which is a part of the "Vakaru Medienos Grupe" (VMG) holding, and specialises products made of wood, ranging from lumber to furniture. N.B. this is the first FEZ "Vitebsk" resident with Lithuanian capital.

In December at the invitation by Lithuanian partners a delegation, which included the higher-ups of the Vitebsk Regional Executive Committee and the Administration fo FEZ "Vitebsk", visited the main production premise of AB "Klaipėdos mediena" (a part of the VMG holding) in the city of Klaipėda.

As a result of the visit, the Administration and "VMG WoodArt" LLC signed an agreement on terms of operation within FEZ "Vitebsk" to implement an investment project as a FEZ "Vitebsk" resident, and Alexey Yakovlev, the company CEO, was presented with the confirmation certificate.

The estimated sum of investment into this project which will be implemented in two stages is more than 100 mln EUR. The first stage is scheduled to be finished by 2023 and will create about 200 new jobs.

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