Business news

Belarusian IBA Group designs drones to monitor infrastructure
Monitoring is done in two steps. First, flying drones record videos. Second, the videos are analyzed automatically to detect defects on utility poles and along power lines...

Tentative plans to raise number of residents in China-Belarus industrial park to 80 by late 2020
The park is now home to 55 resident companies...

Engine factory inaugurated in China-Belarus industrial park Great Stone
OOO MAZ-Weichai is a joint venture established by the Belarusian automobile engineering company MAZ and Weichai Group. The construction of the engine factory began in April 2018. A trial run to manufacture internal combustion engines took place in November 2018. The factory has made an industrial test batch of engines since then...

Great Stone in fDi Free Zones of the Year 2019 rankings
“High independent assessment of international experts indicates the existence of unique conditions for doing business in the region and allows us to consider the Great Stone Industrial Park as a key point uniting the markets of the EU and the Eurasian Economic Union”...

Weichai Group’s assistance sought for making BelAZ trucks in China
Weichai has experience of working in Belarus, Mikhail Myasnikovich noted. The construction of a new joint plant to produce gearboxes is underway. The corporation has already assembled thousands of engines for the Belarusian mechanical engineering industry...

Contracts worth $1.5bn signed at BelCCI business forums
“We have our own road map, it is called the BelCCI 2020 development strategy. We adopted it less than three years ago. It has four main priorities: to promote domestic export, to ensure easy access to services, to facilitate BelCCI digitalization, and to support our members”...

Belarus’ losses due to Russian tax maneuver estimated at $400m in 2020
“These are $800 million taking into account the losses in 2019. This comprises $400 million in 2019 and 2020 each,” Maksim Yermolovich said when asked about Belarus’ losses due to the tax maneuver...

Grodno to host 3rd Forum of Regions of Belarus, Ukraine
“The appropriate decision has been made. This is a great honor for the city. We have already started to get ready for the forum to hold it to a high standard,” Vladimir Kravtsov noted...

Physical launch of first unit of Belarusian nuclear power plant scheduled for January 2020
Asked when nuclear fuel for the first unit will be delivered, the official noted: “We intend to reach that step by the end of 2019”...

Belarusian nuclear power plant getting ready for tests with nuclear fuel imitators
More than 50 reporters from seven countries went on a trip to the Belarusian nuclear power plant on 9 October in order to get familiar with the project's progress...

More than half of Belarus' national standards adopted in 2019 meet international requirements
In some of the sectors this figure is reaching 75%. “Harmonization at 60-75% is a very good result for us. Other countries set forth a similar task,” Irina Osmola said...

Belarus-Turkmenistan compromise on Garlyk mining factory possible
“I see the readiness of Turkmen colleagues. They demonstrate it openly. During today’s meeting Gurbanguly Berdimuhamedow confirmed the Turkmen side is ready for a compromise,” the diplomat stated...

Association of Belarusian Banks, IFC to improve SMEs access to finance in Belarus
“The project aims to improve access to finance for small and medium-sized businesses (SMEs) in Belarus by improving the legal and institutional framework for secured transactions,” Aleksandr Kuchinsky noted...

Belarusian BelAZ to ship batch of 130-tonne haul trucks to Indonesia
BelAZ’s interests in Southeast Asia are represented by Belazia PTE LTD. Indonesian mining companies have known BelAZ vehicles for years...

Belarus consistently implementing green economy policies
“Green economy principles are relatively new to us but taking into account national features and global challenges, the state defines this area as a strategic priority”...

S&P affirms Belarus’ ratings at 'B' with stable outlook
The agency said that Belarus' macroeconomic policy mix has improved in recent years and is now characterized by strengthened foreign exchange reserves and limited inflation...

Belarus’ gold, forex reserves at $8.8bn
Belarus’ gold and foreign exchange reserves were bolstered thanks to budget revenues, including export duties on oil and oil products, the purchase of foreign currency by the central bank...

Lukashenko, Zelensky discuss cooperation in oil refining, oil supplies
"We do not hold anything back. We have discussed oil products, oil refining, alternative ways to deliver oil, shared markets, plants, capitals, and electricity once the nuclear power plant is commissioned. I would not talk about the price"...

Lukashenko invites Ukraine to collaborate in missile engineering
"This is not just about trade. We have taken a decision in principle. The intergovernmental commission that will convene in Kiev (we agreed on this, too) will pass specific decisions on the establishment of joint ventures in Ukraine"...

Belarus calls for institutional cooperation with EU in export certification
"States like Belarus would be primarily interested in institutional cooperation in accreditation of their exporting enterprises, standardization, metrology, harmonization of mutual recognition of product assessment systems, and trade facilitation"...