Business news

GOMEL, 18 May (BelTA) – An estimated 605 people from 29 countries will take part in the 13^th Gomel Economic Forum which is due on 20 May, Chairperson of the Economy Committee of the Gomel Oblast Executive Committee Elvira Karnitskaya told media on 18 May, BelTA has learned.

Among the participants are official delegations, members of embassies, workers of banking and financial establishments, businessmen. Interest in the forum has been showed from highly developed countries such as China, Germany, France, Italy, Turkey, the Netherlands. Partaking in the forum apart from Belarus will also be Russia, Kazakhstan, Ukraine, Lithuania, Latvia, Estonia, Moldova, Bulgaria, Poland, the Czech Republic, Slovakia, Serbia, Vietnam, Finland, Mongolia, and Tajikistan. Attending the forum for the first time will be representatives of Austria, Ireland, Croatia, Kyrgyzstan, Uzbekistan, and Syria.

According to Elvira Karnitskaya, a peculiar feature of the forum is a high percentage of economically motivated participants. The goal of their visit is to develop business in Gomel Oblast. “Only 30 out of 284 foreign participants are diplomats. The rest are businessmen,” she stressed.

Over 150 projects will be suggested for implementation; more than 220 land plots will be offered for setting up new manufacturing facilities and 145 real estate units for purchase. Potential investors can unite their efforts with local businessmen and authorities or implement the projects independently in various economic sectors, including tourism, energy, woodworking and agriculture.

Eleven documents worth $303 million are expected to be signed at the plenary session. Among them are agreements and memorandums of understanding on the implementation of investment projects in the oblast. For example, an investment agreement will be signed to produce perforated metal sheets, an innovative product needed in the industry and agriculture, in Gomel. In Svetlogorsk investors plan to launch the production of stable viscose fiber and build a big trade and entertainment center. The agreement on friendship and economic cooperation will be concluded between the Gomel Oblast Executive Committee and the Syrian province of Homs.

The forum will be divided into five sections: agriculture, construction and utility services, logistics and trade, small and medium-sized business, tourism. Seven more investment agreements will be signed during the work of the sections.

Gomel Economic Forum was first held in 2004. Over the years the forum has turned into a large-scale event gathering hundreds of representatives of business and official circles from different countries. Over 70 agreements worth more than $1.6 billion were signed at the forums in 2008-2015.