Business news

16 Apr 2020

EU to support three business initiatives in Belarusian regions

Photo courtesy of the United Nations Development Programme Office in Belarus

MINSK, 16 April (BelTA) – Projects to promote entrepreneurship in Borisov District, Braslav District and Khoiniki District have won in the additional round of the business idea contest held as part of the project “Support to Economic Development at the Local Level in the Republic of Belarus”, BelTA learned from the press service of the United Nations Development Programme Office.

A regional technology park Inkata-Bor is to be set up in Borisov District. This park will provide educational, engineering and consulting services to entrepreneurs. By 2021 at least 16 resident companies are to be registered there, with the total number of employees reaching 28. Innovative products worth about $1.3 million are to be made there.

A business support center for entrepreneurs engaged in agriculture and rural tourism is to be set up in Braslav District. Business people will be offered ready-made solutions and practical instruments to launch and grow a business in rural communities. The project provides for developing a business navigator (a single interactive map) and a business school (an educational platform for fledgling entrepreneurs). The center will create at least 50 jobs, while the number of small and medium-sized companies will rise by at least 15%.

A business center, Trumplin, will be established in Khoiniki District. It will present a series of business trainings for aspiring and fledgling entrepreneurs, self-employed people, the youth and women. More than 90 local residents will be able to improve their competencies in business planning, digitalization of business, promotion of business partnerships and expansion into new markets. Fifteen companies and 80 entrepreneurs will get targeted assistance with promoting their new businesses, including legal and accounting services and development of a website.

The aggregate budget to support the three initiatives is estimated at $250,000. These projects will help businesses to better respond to the changing economic environment caused by emergencies like the COVID-19 pandemic. In addition to that, new initiatives will help create new jobs, make businesses more resilient to shocks and increase the number of small land medium-sized companies.

The organizers of the additional round of the competition received 31 applications from six pilot regions; 29 applications were processed.

The project “Support to Economic Development at the Local Level in the Republic of Belarus” is financed by the European Union and is implemented by the United Nations Development Programme in partnership with the Economy Ministry of Belarus.