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Business news

9 Sep 2016

Belarus, China to expand business cooperation

MINSK, 9 September (BelTA) – Belarus’ Deputy Economy Minister Dmitry Krutoi met with Deputy Chairwoman of the State-owned Assets Supervision and Administration Commission under the State Council of the People’s Republic of China Huang Danhua in Minsk on 8 September, BelTA learnt from the press service of the Economy Ministry.

“Dmitry Krutoi pointed out the focus of the visit of Chinese businessmen on getting maximum information on the Belarusian industrial sector and its accent on intensive contacts between businessmen of the two countries in the search for areas of common interest,” the press service said.

The deputy minister told the Chinese delegation about the government property reform in Belarus, stressing its emphasis on enhancing the efficiency of state companies and the division of the government’s functions as a regulator and an owner.

“Speaking about the expansion of forms and ways of cooperation with investors in respect to state-run companies as part of the program, the deputy minister stressed that apart from traditional privatization, there are plans for a more active use of IPO instruments, transfer of state companies to discretionary management with the possibility of subsequent repurchase, setting up joint companies,” the press service added.

Taking into account the existing experience of mutually beneficial cooperation between Chinese and Belarusian companies, the planned reform in the Belarusian state sector will be an additional opportunity for Chinese companies to enter the Belarusian market.

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