Business news

Belarus aims to attract $3-4bn in FDI every year

MINSK, 22 September (BelTA) – In the next five-year term Belarus will open up to 200 joint ventures with a share of foreign capital and will attract $3-4 billion in foreign direct investments every year, said Vice Premier of Belarus Andrei Kobyakov at the opening of a new plant of the joint venture Bahco Bisov on 22 September. The new enterprise is located in the free economic zone Minsk, BelTA has learned.

“Our development program for 2011-2015 provides for opening up to 200 such enterprises ever year and for attracting $3-4 billion in foreign direct investments,” said Andrei Kobyakov. The production of bimetallic saws is a highly competitive business organized in Minsk with the participation of the Swedish company SNA Europe. These products will be sold all over the world. The Vice Premier appreciated the resilience of the company and its desire to implement this promising project in Belarus.

The joint venture Bahco Bisov has been operating in Belarus since 1999. Since then the enterprise has grown larger. The new plant is an example of the growth. The Vice Premier of Belarus thanked foreign investors for their faith in Belarus and said he was confident that the process will continue going on like that and cooperation will advance. The second startup complex of the plant is supposed to be built and the project will have a future.