Management structure to be transformed

Economy Ministry structure is to be transformed, notes Economy Minister Vladimir Zinovsky, speaking at session of Ministry’s board, attended by PM Andrei Kobyakov
Economy Ministry structure is to be transformed, notes Economy Minister Vladimir Zinovsky, speaking at session of Ministry’s board, attended by PM Andrei Kobyakov

According to Mr. Zinovsky, the Belarusian Economy Ministry needs to focus on ensuring conditions to raise the competiveness of the Belarusian economy. Lack of decisiveness and rapidly changing external conditions were mentioned as main unfavourable factors.

“As the pace of events quickens, we have to make decisions faster,” notes the Economy Minister. Mr. Zinovsky comments that the Ministry must focus on improving the management of the national economy, to promote adaptation to rapidly changing conditions. He aims to revise the structure of the Economy Ministry, to ensure better performance.

Mr. Zinovsky mentions that the key priorities for 2016 and the five-year period are employment, exports and investments. There is untapped potential in the private sector regarding employment and, taking into account this year’s priorities, the Ministry will continue to guide Belarus’ participation in the Eurasian Economic Union. The development of investment co-operation with the People’s Republic of China is another key area for effort.

The Ministry’s other focus areas are expansion of interaction with international economic organisations (such as the World Bank, the European Bank for Reconstruction and Development, and the European Investment Bank), and support for pilot public-private partnership projects.

The Ministry will contrive proposals to improve the investment climate, creating an attractive business environment, and supporting small and medium-sized businesses. It will be promoting and co-ordinating previously mentioned initiatives, as well as new strategies.

The session mentioned new approaches to macroeconomics forecasting, adjustment and correction of forecasts and the session ended with the adoption of an executive order on organising the Ministry’s work in 2016.

By Alexander Pimenov
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