Investors focus on new technologies

Around 500 new manufactures to set up in Minsk
By Vladimir Samsonov

In total, it’s planned to establish over 6,000 new enterprises in the Belarusian capital during 2014, with around 500 of these in the production sphere. Due to this, the economy of the city will receive new technologies, developments and innovations in the sphere of import-substitution, while increasing production volumes of export-oriented goods.

The development of small and medium-sized businesses sees promotion in allocating the newly established enterprises at production sites. “A single registration database of small and medium-sized enterprises has been created in the city’s districts. After facilities are allocated, inspections are conducted to learn whether production has been launched at an enterprise,” notes Tatiana Kravchenko, Acting Chair of the Minsk City Executive Committee’s Economy Committee.

According to specialists, the implementation of investment contracts in the manufacturing sphere will bring in around $100m in 2014. As far as the establishment of innovation enterprises is concerned, thirty of these will be finished this year. “Over Br1 trillion has been injected into this direction, including money from the city’s innovation fund,” adds Ms. Kravchenko.

Moreover, Minsk plans to attract around $1.3bn of FDI, while the expected volume of attraction last year stood at $1.05bn.
Ms. Kravchenko named the establishment of new high value-added ventures and export expansion as major priorities of Minsk’s development for 2014, alongside the development of tourism and hotel business, and IT.
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