Belarus: Economic Opportunities

 

 Welcome to the project “Belarus: Economic Opportunities”.

   

    
The Chinese corporation Weichai intends to implement a project to start manufacturing gearboxes in the China-Belarus industrial park Great Stone, BelTA learned from Aleksandr Yaroshenko, head of the industrial park administration, at a press conference on 10 June. The official said: “The governments of Belarus and China see the possibility of attracting serious, so-called anchor transnational corporations as a source of the growth of investments. Our industrial park already has such an example. The Chinese leading mechanical engineering corporation Weichai has already built a factory to make diesel engines for the Belarusian automaker MAZ. These engines are also supposed to be used by other Belarusian companies – Amkodor, Gomselmash, and so on. We hope that during the Belt & Road Forum for Regional Cooperation and Development a groundbreaking ceremony will take place to start the construction of the second project of this corporation – the production of gearboxes.” The two flagships companies – Belarusian MAZ and Chinese Weichai – have established a joint venture. OOO MAZ-Weichai became a resident company in the China-Belarus industrial park Great Stone in October 2017. The construction of an engine factory began in April 2018. The pilot production of internal combustion engines began in November 2018. There are plans to make engines for trucks, utility vehicles, and buses.
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 Belarus intends to attract at least $1.6 billion in net foreign direct investments (FDI) in 2019, BelTA learned from Belarusian Deputy Economy Minister Yelena Perminova on 10 June. The official said: “Results of the year 2018 were very positive for us: the net foreign direct investments were close to $1.5 billion. The performance target was hit. This year we have to raise at least $1.6 billion in net FDI because this kind of investments represents a priority in Belarus' investment policy taking into account non-debt assets.” The diversification of investment streams continues. “This year's flow from the European Union has exceeded the flow from the Russian Federation, however, taking into account our strategic friendship, neighborliness, and the lack of a language barrier Russia had always been in the lead,” the deputy economy minister noted. As for China, the country remains one of the top three donors of foreign direct investments and one of the top three trade and economic partners. A strategy to attract foreign direct investments to Belarus in the period till 2035 has been drafted. The document provides for doubling net FDI by 2025 to $3 billion. “We have to double the GDP by 2025 – up to $100 billion. The main drivers to achieve this result will be export, investments, and the development of entrepreneurship – small and medium businesses. Our economy needs net FDI to the tune of $3 billion. This is why the strategy for attracting FDI till 2035 includes mechanisms used by the entire world: work to improve investment legislation, work to facilitate administrative procedures for the private sector, further digitization of all processes in order to rule out a subjective approach to dealing with tasks. Everything should be simple: send a package of documents by email or online, get the necessary approval, and start working,” Yelena Perminova stressed. There are also plans for working hard to attract foreign investments and promote Belarus' investment potential abroad, including via events like Belarusian Economy Days, investment forums, conferences, meetings with private sector representatives. New promotion tools will be sought as well. Apart from that, there are plans to improve the performance of the National Agency of Investment and Privatization. The agency has already switched to a new format of work based on the project office principle: every specialist takes care of a specific investment project or a potential investor.
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 Armenia is interested in promoting cooperation with Belarus in the IT sector, Armenian President Armen Sarkissian told the ONT TV Channel on 9 June, BelTA has learned. “I have seen Belarus as a developed country. I liked not only stability and predictability, but also a great focus on science and education. I toured the National Academy of Sciences, met with the academia, and visited one of research institutes. As a former scientist, I was very glad to see that Belarus sets great store by science and science-intensive manufacturing,” Armen Sarkissian said. Belarus and Armenia have another common interest, which is information technology. In this regard, the Armenian president pointed to the role of human capital in the development of the country. Armen Sarkissian added that he would like to see Belarus President Aleksandr Lukashenko as a guest in Armenia. Armen Sarkissian said that he would come to Belarus again on an official visit to learn more about the country and discuss in detail possible avenues of cooperation in areas, like food safety, new technology and artificial intelligence.
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Big banks such as Societe Generale and Deutsche Bank are showing interest in cooperation with Belarus, Prime Minister Sergei Rumas told the media following a series of meetings with financial and banking groups in London, BelTA has learned. “Today we have met with representatives of several big European banks, Societe Generale, Deutsche Bank and Renaissance Capital in particular. All these respectable European financial institutions are interested in cooperation with Belarus,” Sergei Rumas said. The conglomerates are looking to cooperation in various areas, including debt market, capital market, interaction with Belarus' biggest banks and corporate borrowers. “All the cooperation areas were the subject of discussion, and the financial institutions expressed interest in cooperation. With no previous experience of work with Belarus, Societe Generale is ready to start cooperation with our country on a wide range of areas. Deutsche Bank has a long record of cooperation with Belarus. We have not worked together in the recent years. Today, Deutsche Bank has confirmed its interest in all-round cooperation,” the premier said. “On the whole I would like to say that the interest in Belarus is very big. Financial institutions, investors see our activity on international capital markets, offer their services and express readiness to work with Belarus,” the Belarusian head of government said.
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 In May 2019 the index of consumer prices for goods and services totaled 100.3% as against April 2019 and 103% as against December 2018, representatives of the National Statistics Committee of Belarus told BelTA. In May 2019 the base index of consumer prices, which does not account for changes in prices for individual goods and services susceptible to administrative and seasonal factors, stood at 100.5% in comparison with April 2019 and 102% in comparison with December 2018. In May 2019 food prices went up by 0.1% from April 2019, 3.1% up from December 2018. Non-food prices grew by 0.6% from April 2019, 2.3% up from December 2018. Prices for services went up by 0.4% from April 2019 and increased by 3.6% from December 2018.
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The Chinese corporation Geely may set up an enterprise in the China-Belarus industrial park Great Stone to make automobile parts, BelTA learned from Aleksandr Yaroshenko, head of the industrial park administration, at a press conference on 10 June. The official said: “We have preliminary agreements on the arrival of two very large, truly significant investors for us. I hope it will happen and we will sign the relevant agreements. Primarily with Geely Corporation. Work is still in progress. We intend to sign a preliminary agreement on implementing a project to make automobile parts in the China-Belarus industrial park Great Stone. Another planned agreement of intent will involve a Chinese shipbuilding corporation. Together with an aerospace technology company, which is one of the anchor investors, we intend to create a so-called subpark in the industrial park. We hope that the Belt & Road Forum for Regional Cooperation and Development will give a nudge to the development of these serious projects we are betting on now.” Plans have been made to sign agreements with several Swiss companies. “I hope we will sign among other things an agreement on residency with a company specializing in R&D in the area of big data storage and processing in the sphere of unmanned technologies – driving an automobile using the so-called augmented reality. The second project involves mechanical engineering. First Deputy Prime Minister of Belarus Aleksandr Turchin has already met with a representative of the company in Switzerland. We've held negotiations. We also see the possibility of implementing two projects relating to pharmaceutics later on,” the head of the industrial park administration noted. Apart from that, two Belarusian companies are expected to become residents of the China-Belarus industrial park Great Stone. The first one will bring 3D technologies while the second one will bring computer technologies. “We invite our Belarusian investors, businessmen to look at the industrial park as a territory of global opportunities not only for foreign investments but primarily Belarusian ones. We give an opportunity to expand one's own business, actively promote products, including to foreign markets,” Aleksandr Yaroshenko stressed. The Belt & Road Forum for Regional Cooperation and Development will take place in the China-Belarus industrial park Great Stone on 2 July. Its key theme is Great Stone Industrial Park – Global Opportunities. The forum will draw about 500 participants. Those will be representatives of governments, heads of business associations, investment funds, banks, and major companies from European and Asian regions. The forum's organizers are the Belarusian Economy Ministry and the Commerce Ministry of the People's Republic of China. The co-organizers are the Belarusian Chamber of Commerce and Industry, the Trade Development Bureau of the Chinese Commerce Ministry, the administration of the China-Belarus industrial park Great Stone, the National Agency of Investment and Privatization, and SZAO Industrial Park Development Company.
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A foreign investment council may be set up in Belarus with the help of the European Bank for Reconstruction and Development (EBRD). The Belarusian government and the EBRD are working on the appropriate memorandum, BelTA learned from head of the EBRD representative office in Belarus Alexander Pivovarsky on the Belarus Capital Markets Day at London Stock Exchange. “During the visit of EBRD President Suma Chakrabarti to Minsk, we suggested setting up a new agency. We got a feeling that Belarus was ready for it. We would like it to meet the best standards,” Alexander Pivovarsky said. The council may include representatives of both the Belarusian government and the international investment community. The format of the council is to be negotiated. According to Alexander Pivovarsky, given a favorable environment and positive decision on all the procedures, the foreign investment council will be able to hold its first meeting in 2019. “A dialogue with investors is very important. We see tough competition for foreign capital in the world today. We need to use all the tools to show the country, attract investors,” Alexander Pivovarsky said. Since the EBRD began working in Belarus in 1992, the bank has invested over €2.4 billion in 112 projects implemented in various branches of the national economy.

 
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COMMENTS AND QUESTIONS


Dear
English Service
Radio Belarus,

Greetings to all staff and listeners of English Service of Radio Belarus.
We listen your webcast program. Your program quality is very nice. Your website is colorful & documented.
We liked your programs, News, and Current Affairs Program. We are interested about Culture, life style of Belarusian people, historical places, Tourist attraction and destination of Belarus.
Please send some program schedule (A19), Calendar , sticker, view card, Promotional items of Radio Belarus for our club members and students.
21st June was fifth International Yoga Day observed across the world. The theme for Yoga Day 2019 was "Yoga for Climate Action”. On this day, which is dedicated to inner and outer well-being of human body, people across the world practice yoga in groups. The International Day of Yoga aims to raise awareness worldwide of the many benefits of practicing yoga, a physical, mental and spiritual practice.
We send you some photos related the program which was held in our area on the occasion of International Yoga Day. Our club members are also practice some Yoga.
We are waiting for your reply.

With best wishes,
SHIVENDU PAUL
PRESIDENT
METALI LISTENERS' CLUB
INDIA

Answer:

Dear Shivendu Paul and Metali Listeners' Club,

dthank you for your comment! We'll send you some of our souvenirs ASAP.
Stay tuned and 73,
RBI


Hallo Radio Belarus,

ja der Dieter Leupold ist jetzt auch hier im Gästebuch vertreten... Super, bald sind wir alle zusammen hier im "Belarus Hörerclub", Dieter könnte 1.Vorsitzender werden und Jana und Elena Ehrernmitglieder, Helmut Matt Schriftführer, Alfred Albrecht Beisitzer und ich mache Hausmeister:-) Lutz Winkler wie fit bist Du bereits wieder, für Dich finden wir auch eine nette Aufgabe:-) Beste Grüße und ein schönes Wochenende.

Dietmar

Answer:

Lieber Dietmar,

das stimmt, für alle finden wir im Hörerklub eine Aufgabe!:)
Liebe Grüße und einen guten Start in die Woche!


I recently learned my surname is not Polish, but Belarusian. I heard you on shortwave in the past and am so happy to listen online in English. We hear nothing about Belarus here in the US so I am so glad to learn about your country. Keep on broadcasting in English. I also joined the Hoererklub on Facebook as I can understand German. If you have information or a station pennant, I will very much appreciate it.
Sheryl Paszkiewicz, 1015 Green St, Manitowoc WI 54220 USA

Answer:

Dear Sheryl, thank you very much for listening to us! We'll send you some of our souvenirs as soon as we can. By the way, if you're interested, you can participate in our "The Old Country's Loving Call" project and send a greeting to Belarus. You can find more detailed information at http://www.radiobelarus.by/en/content/hukaje_eng

Also, in case you like sports, here's the link to an international competition of ours "My Greetings to 2nd European Games" http://www.radiobelarus.by/en/content/games_eng

73 from the entire staff of RBI! Прывiтанне з Малой Радiзмы :)


Hello from Birmingham United Kingdom!

My name is Michael.

I really enjoyed listening to your program on the Hotbird satellite 13e. I very much love listening to your news and current affairs.
Ask you to send me a small gifts. I hope you guys are all good.

Lots of love from UK

Especially enjoying learning about Belarus. History and culture

Michael Rogers

Flat 2 463 City road Birmingham

B17 8LG

United Kingdom

Answer:

Michael,

thank you very much for listening to us! We're glad that you enjoy our programs. We'll send you some of our souvenirs as soon as we can. Best regards and stay tuned!


Hello. I am a new listener to your English service. I listen on the Radio 1 News app. I enjoyed listening to the news. Do you have any information on shortwave broadcasts you can send me?

Thank you,

Joe Cosimo

23 Ivy Ln, Dupont, PA 18641 U.S.A.

Answer:

Dear Joe, thank you for listening to Radio Belarus International! We're glad that you enjoyed our news. RBI broadcasts on shortwave only in German on 6005 and 3985 kHz. News and programs in English are available via our website and satellites. We'll also send you a postcard and a small souvenir as soon as we can. 73!


Hello,

My name is Younes Lazazi, I am from Algeria.
I am very happy that radio Belarus has started broadcasting in Arabic.
I would like to receive stickers and printed matter of the station and the Arabic and french services if possible.
My address:

Monsieur Younes Lazazi 14 rue Maza Boualem El-Harrach 16009 Alger Algérie

Thank you.

Answer:

Dear Younes Lazazi,

we're happy that you like our boradcasts. We'll send you some of our printed materials via mail in the nearest future. 73!


Dear English Service Radio Belarus,

Greetings to all staff and listeners of English Service of Radio Belarus. We listen your webcast program. Your program quality is very nice. Your website is colorful & documented. We liked your programs, News, and Current Affairs Program. We are interested about Culture, life style of Belarusian people, historical places, Tourist attraction and destination of Belarus.

Please send some program schedule, sticker, view card, Promotional items of Radio Belarus for our club members and students.

We are waiting for your reply.

With best wishes,

SHIVENDU PAUL

President

Metali Listeners' Club

India

Answer:

Dear Shivendu Paul,

thank you very much for listening to us! Your club is among our most dedicated listeners. We will send you some of our promotional products as soon as possible. 73!


Hello!

Did the arabic programmes start? I don't see them on your Internetcast schedule page. Thanks!

Answer:

Hello! The Arabic programmes have been on air since October, every Monday. You can see the schedule and listen to them on our Arabic page http://radiobelarus.by/ar


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Daily News Review 27.3.24