Senators decide to more deeply consider economic matters

Speaking at a seminar for members of the National Assembly’s Council of the Republic, Deputy Economy Minister Dmitry Golukhov states that the establishment of holdings and clusters in Belarus is becoming a strategic economic avenue — able to ensure competitiveness for regions and branches of the national economy

By Sergey Kopylov

At present, 33 holdings are registered countrywide, uniting 203 commercial organisations and one non-commercial. Mr. Golukhov sees positive market prospects for holding structures boasting multi-purpose production and large volumes of manufactured goods. He notes that falling costs and risk factors, combined with enhanced management efficiency, are major advantages for large integrated production structures. However, Mr. Golukhov admits that legislation regarding their establishment and operation is yet to be fully realised in Belarus.

The seminar directly tackled the professional activity of members of the Council of the Republic — as many work in the real sector of the economy. There was hot debate on the establishment of holdings and their operation, revealing that a gap exists between the Economy Ministry’s theory and actual practice.

Members of the Council of the Republic also listened to reports on how legislation can govern the formation and operation of holdings, and on the role of Belarusian science in enhancing the competitiveness and sustainability of large production facilities. Belarus’ Deputy Industry Minister, Pavel Utyupin, explained plans to establish industrial holdings within the Industry Ministry while the Chairman of BPS-Sberbank JSC, Vasily Matyushevsky, reported on the latest activity of banking holdings. The Director General of Milavitsa JV JSC, Dmitry Dichkovsky, spoke of the successful experience of establishing a branch cluster.

During its eighth session, the Council of the Republic plans to study several draft laws to define economic and institutional conditions for modernising the Belarusian economy. These include laws to counteract monopolistic activity, to establish conditions to promote competitiveness and legislation governing state-private partnership. Among them are draft laws ‘On Investments’, ‘On State Innovative Policy and Activity in the Republic of Belarus’, ‘On Changes and Amendments to the Banking Code of the Republic of Belarus’, ‘On Accounting and Reporting’, ‘On Audit Activity’, ‘On State Purchases of Goods (Works, Services)’, and ‘On State Indicative Planning of Social-Economic Development of the Republic of Belarus’.

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