Business news

Belarus in talks to sell 8 enterprises

MINSK, 12 April (BelTA) - Belarus is negotiating to sell 8 enterprises, Economy Minister Nikolai Snopkov told journalists.

“Concrete negotiations are underway regarding eight enterprises that have been selected by the President as part of privatization effort, together with the World Bank,” said Nikolai Snopkov.

Work is carried out by the National Agency for Investment and Privatization. The mechanism is being developed with the World Bank. Eight enterprises from different sectors have been offered for privatization. Contest has been held among financial consultants to sell these enterprises. According to Nikolai Snopkov, “the appetite among consultants was big. We got applications from 30 consultants and selected 13.” Privatization of these eight enterprises will be carried out in accordance with the best world practices.

The companies offered for privatization are medium-sized. Among them are the Minsk Margarine Factory, several construction and woodworking companies. “Privatization does not involve blue-chip firms,” Nikolai Snopkov said. In his words, the talks on blue-chip companies are always quite a delicate thing which has its economic and geopolitical pros and cons. That is why blue chips are not an indicator of privatization. “An indicator of privatization is permanent constructive work with medium-sized companies,” the official said.

According to the Economy Minister, privatization rules in Belarus are controlled by the national legislation. “The main thing here is that privatization is possible and under way. Everything depends on the price and terms an investor offers,” Nikolai Snopkov stressed.

The Belarusian official said that Belarus stays committed to the EurAsEC Anticrisis Fund obligations.

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