The free economic zone has been established in 1998 for a period of 50 years.
At present there are 40 resident enterprises registered there that represent capital of 11 foreign countries. The FEZ residents have been effecting foreign trade transactions in 33 countries of the world.

The FEZ is situated in Gomel, a regional capital in the south-east of Belarus (about 500 thousand inhabitants).

One of the key trans-European corridors Helsinki-St.Petersburg-Gomel-Kiev-Sofia-Athens passes through the region. Favorable geographic location of the region promoted conversion of Gomel into a major road junction. Railroads Odessa-Kiev-St.Petersburg-Bryansk-Brest cross here. The railway junction has a complex of warehouses available for storing any cargo. A network of spur tracks provides for delivery of cargo immediately to the territory of most enterprises operating in FEZ. There are also branches to central Russia and east Ukraine and seaports of the Baltic countries. In the region, there is a good network of highways with well-developed motor-service. The Gomelavia Airport unitary enterprise having a status of international airport operates here. On the Sozh River there is a river port with an exit to the Black Sea that can handle river-sea vessels.

There are more than one hundred enterprises of machine building, chemical, light, and food industries. Woodworking, furniture, and building industries are also well developed.

Gomel, which is one of the most ancient towns in Belarus (first mention in 1142), is a major scientific and cultural center.
The regional capital has an adequate number of high-skilled specialists with higher and specialized secondary education at its disposal.

Key Enterprises

• Foreign unitary production enterprise Belcaps (FDR). Manufacture of closing items: screw aluminum caps and cap liners of polyethylene foam.
  
• Joint-stock company Gomelcable (Republic of Belarus, Kyrgyzstan).
  A leader in production of enameled wire, uncoated, and winding wires, aluminum and copper conductors.
  
• Joint Company Becker-System LLC (Belarus, Germany).
  Production of high-quality products complying with building and industrial standards of Belarus, Russia and Germany: windows, doors, stained-glass panels, partitions of wood, aluminum and plastic, window sections, furniture sections, and drip caps.
  
• Open joint-stock company Electroapparatura (Belarus).
  This is an advanced enterprise that is unique in the Republic of Belarus and a leading one in CIS specializing in production of special equipment, low-voltage, switching and protection equipment applied in any field of national economy. The enterprise also produces a wide range of consumer goods: electric hot plates, electric cabinets, irons and other products.