Belarusian Industry Ministry to invite foreign companies to major investment projects

The Belarusian Industry Ministry intends to invite foreign companies to take part in realizing its major investment and innovation projects that will be accomplished in 2011-2015. The information was released by Dmitry Korchik, Head of the Central Office for Innovations and Investments of the Industry Ministry, on 5 May.

The Industry Ministry will present the major investment projects that mechanical engineering enterprises plan to accomplish in 2011-2015 at the Belarusian Industrial Forum that will take place in Minsk on 17-20 May. “We will present complete information about projects to be implemented to foreign companies at the forum. The catalogues will stipulate Belarusian laws that regulate investments,” said Dmitry Korchik.

In line with Directive No 4 the Industry Ministry will also step up its cooperation with private business. There are plans to get private business at the Belarusian Industrial Forum to involve foreign investors in the creation of modern enterprises in Belarus and in the cooperation with industrial giants, in particular, MAZ, MTZ, and Minsk Motor Plant.

The official also said that several enterprises run by the Industry Ministry were in talks with foreign companies to attract foreign direct investments. “At the forum we plan to hold negotiations, meetings with foreign companies, private business and to discuss individual projects, to suggest their participation in them,” said Dmitry Korchik. Foreign companies are expected to take part in creating new enterprises that will be used in manufacturing cooperation schemes with major Belarusian mechanical engineering enterprises.

This way the problem of import substitution will be addressed. At present Industry Ministry enterprises import quite a lot of components for assembling their products, said the Industry Ministry representative. An analysis demonstrates that many components, which are now imported, could be produced locally involving private business and foreign partners. “We are ready to provide private business with unused manufacturing capacity, unfinished construction sites as well as other areas, which are used ineffectively, in order to hand them over to investors for the sake of attracting money for the creation of new effective enterprises,” said Dmitry Korchik.

Over 50 organizations of the Belarusian Industry Ministry are expected to take part in the Belarusian Industrial Forum. It will feature the latest research, equipment, machines and effective technologies. It is the key exhibition event for the Industry Ministry. A lot of attention is paid to it every year. The arrangement of exhibits of the Industry Ministry expands every year and will occupy 425 square meters this year. In addition, specialists of enterprises will take part in a contest of welders.

According to