FOREIGN ECONOMIC ACTIVITY AS A FACTOR OF INVESTMENT ACTIVATION IN THE BREST REGION OF THE REPUBLIC OF BELARUS

Abstract

Investment in the country is the most effective and efficient driver of the economy. Their availability will inevitably lead to effective employment through the creation of new jobs, and deep modernization. Increasing the competitiveness of goods will contribute to the growth of sales, exports and foreign exchange earnings in the country. The purpose of the article is to characterize foreign economic activity as a factor in intensifying investments in the Brest region of Belarus. Methods used in the study. The use of the induction method allowed us to identify areas for improving the procedures for determining the effectiveness of the application of tax benefits. Research hypothesis. In the Republic of Belarus, this is favored by a well-developed transport infrastructure, an extensive network of Railways and highways, modern logistics centers, and a highly qualified workforce. The key factor in the growth of the country's economy is the investment of funds in the regions. Statement of the main material. The modern Brest district is a region where light industry, agriculture, food industry, construction industry, forestry, and woodworking are actively developing. The geographical position of the region on the border with the European Union creates favorable conditions for trade and investment cooperation with European countries. The products of JSC ”Savushkin product“, the Belarusian-German joint venture ”Santa Bremor“ and the Belarusian-Russian joint venture ”Brestgazoapparat“, and the holding company ”Pinskdrev“ are widely known on the world markets. The national center for marketing and pricing study of the Ministry of foreign affairs will continue to promote economic cooperation between enterprises of the Brest region and foreign partners. Originality and practical value. The free economic zone ”Brest“ has been created and is successfully operating in the region, the advantages of which are well known to investors far beyond the country's borders. The residents of this economic zone have successfully used tax and customs benefits, guarantees in respect of the ownership and disposition of profit. In addition to the benefits provided in the free economic zone, preferences also apply when investing in objects located in small towns and rural areas. Conclusions. The Brest region can offer foreign investors comfortable working conditions and profitable projects. In total, the region's investment portfolio includes more than 20 offers totaling more than 100 million dollars.In the article, analyzes the effectiveness of foreign economic activity of the Brest region of the Republic of Belarus and appreciates its investment potential. The assessment of the economic activity of the region allows us to draw conclusions not only about the weaknesses and strengths of key economic entities, but also to identify the prospects for the development of the Brest region by increasing the use of existing benefits and preferences.