The Free Economic Zone has been established for the period of 50 years in March 1998 by Decree of the President of the Republic of Belarus No. 93. It covers the area of 43 sq. km and comprises all the necessary engineering utilities and communications, production area, and other infrastructure needed.

The Zone has exits to all types of transport: railway, automobile, air and river.

By the beginning of 1999, about two dozens of residents have been registered in the FEZ "Gomel- Raton".

In the territory of the Zone the preference regime of taxation is in power: profit and income taxes are 15% (against 30% elsewhere in the Republic), the value-added-tax is 10% (20% in general in the Republic).

The profits obtained by the residents of the FEZ "Gomel-Raton" from sale of their own products and services are liberated from any taxation ror the period of five years from the moment of declaration, including the first profitable year.

In what concerns investments, such forced measures like nationalization, confiscation, requisition, etc. are never allowed.

When bringing foreign and local products into the territory of the FEZ "Gomel-Raton", no customs duties (except collections for customs clearance) and VAT are not charged.

The National Bank of the Republic of Belarus has introduced financial guarantees for foreign investors for exporting their revenues obtained in the territory oi the FEZ, as well as a privileged order or currency operations.