Partnership seen in long-term format
Last year, foreign investors invested $15.1bn in the real sector of the Belarusian economy
Last year, foreign investors invested $15.1bn in the real sector of the Belarusian economy.
Russian business keen on Belarusian potassiumThe Chairman of the Board of Directors of the Eurasian Engineering Company JV and Director General of the Rosbelmarketingtsentr JV, Alexander Olshevsky, explained that in Belarus we have created economic and legal conditions which allow Russian businesses to feel at home. This has occurred thanks to equal conditions for production and entrepreneurial activity, common rules of trade in goods and services amongst other favourable conditions. Many companies have begun to make payments in Belarusian Roubles. Experts note this positive trend, “The time has come, when Russian business is absolutely confident in its Belarusian partners and is ready to co-operate in a long-term plan. The Eurasian Economic Union is pushing for this.”
In the Belarusian market, Russian energy companies are well established and successful. Russian banks have also found a niche and a considerable amount of Russian investment goes into the construction industry. The Slavkali Company for example, created by the Russian businessman Mikhail Gutseriev, is building a new production factory for potash fertilisers. The project plans to be fully realised at capacity in 2020.
Additionally, Russian businessmen are working in the retail, restaurant and hotel business. Moreover, there are several examples of joint production plants especially for food products. Currently almost all foodstuffs, which fall under sanctions in Russia, have Belarusian equivalents. To maximise these investments we should conduct a competent and proactive marketing policy and shouldn’t hope that government agencies will help to activate deliveries.
By Veniamin Mikheev