Business news

EBRD revises up 2017 growth forecast for Belarus
According to the Bank, in 2018 the Belarusian economy will expand by 2%...

First batch of MAZ low-floor buses arrives in Hanoi
A ceremony to deliver the first batch of MAZ-103 low-floor buses to the state transport corporation Transerco, the key passenger carrier in Hanoi, took place on 7 November...

Huawei to pay more attention to R&D in Belarus
According to the source, information and communication technologies have drastically changed people’s lives in the last ten years. It is obvious that the positive changes will become even more substantial very soon...

Belarus to continue efforts to improve positions on Doing Business list
"This year Belarus performed better across all indicators but one. But other countries also improve their positions and undertake reforms. Doing Business is, in fact, a competition of legislation and administrative procedures"...

Association of Italian entrepreneurs Set up in Belarus
"Our goal was to set up a non-profit organization which would contribute to the increase of the Italian business presence in Belarus and would add the Italian flavor and manner of doing business to local business"...

American company to develop driverless car technologies in Minsk
Mapbox has been successfully working with developers in the city for the past 18 months and felt the timing was right to expand the company’s investment there. The company intends to set up shop in the Hi-Tech Park in Minsk...

Belavia’s IOSA certificate extended
The International Air Transport Association (IATA) has renewed Belavia’s IATA Operational Safety Audit (IOSA) registration until 2 November 2019...

Belarus’ dairy export projected at $2bn in 2017
Belarusian dairy products are sold into 23 countries, meat products into 18 countries. "Thirty-six dairy factories have been certified to supply goods to the Chinese market. The exports to that country surged 20 times this year as against the same period a year prior"...

Belarus’ central bank, EC to sign agreement under Twinning program
The EU’s Twinning aims to provide long-term (up to two years) technical support to the public administrations of the EU neighbors in harmonization with the EU legislation...

Belarus’ National Bank plans to switch to inflation targeting by 2020
"I hope that by 2020, when inflation reaches 5%, we will have a sound monetary policy, namely inflation targeting"...

Plans to reduce key interest rate in Belarus to 10% per annum in 2018
The refinancing rate was reduced to 11% per annum in Belarus on 18 October. It was the eighth reduction since the beginning of the year...

Number of railway containers travelling from China to Europe via Belarusian Brest doubles
The number is expected to increase by several times in the future. Chinese companies and Belarusian Railways intend to increase the number of containers up to 500,000 by 2020...

Hong Kong delegation briefed on business operation, investment terms in Belarus
Belarusian Economy Minister Vladimir Zinovsky stressed the strategic level of Belarus-China relations and the solid foundation laid down by the heads of state to enable transition from credit and investment cooperation to direct investments and the pooling of manufacturing potentials of the two countries...

Brest and Bereza meat packing plants undergoing Chinese export compliance certification
"We are planning to increase the pace. This year we want to supply $3 million worth of goods to China. We also welcome Chinese investments in the real sector of the Brest economy"...

Hope for higher economic growth in Belarus
In January-September 2017 Belarus’ GDP growth made up 1.7%. Inflation stood at 2.7%. The government and the National Bank met six out of seven key performance indicators...

Matyushevsky on talks with IMF: Getting a loan is not the most important thing
"The IMF is traditionally viewed by investors and market participants as a global auditor. We need this dialogue with the IMF for them to confirm that we are moving in the right direction and there are no threats for investors"...

Positive view on Belarus’ position in Doing Business 2018 report
BelTA reported earlier that Belarus was ranked 38th out of the 190 economies covered by the World Bank’s Doing Business 2018 report...

Belarus’ foreign trade up 22.4% in January-September 2017
Belarus’ trade with the CIS member states accounted for 61% of the total. The export to the CIS rose 23.1% to $12.8 billion, the import increased by 23.7% to $14.7 billion...

Assembly of Belarusian tractors in Russia’s Primorsky Territory under consideration
Igor Petrishenko also suggested using the experience of getting Belarusian companies involved in the design and construction of housing, industrial installations, social and sport facilities, the construction and modernization of automobile roads...

Sudan eager to buy Belarusian tractors, road construction machines
The negotiations confirmed Sudan’s interest in comprehensive cooperation with Belarus in the production sector, civil engineering, agriculture, the organization of shipments of Belarusian tractors, automobiles, agricultural machines, and road construction machines...