Business news

MINSK, 24 October (BelTA) – The process of privatization in Belarus will be accelerated if it benefits the state, Belarus’ Minister of Foreign Affairs Vladimir Makei said in an interview with Financial Times, BelTA learned from the Belarusian Ministry of Foreign Affairs.

The minister said that the European Bank for Reconstruction and Development (EBRD) is working with Belarus in the field of privatization of certain industrial enterprises. He cited Krasnoselsky Cement Plant as an example. There are other enterprises in the list. “We not only had discussions, the stage of concrete preparations with partners has begun. We will build a proper process of privatization, and this will be civilized privatization. It is important for us to implement a successful project in privatization. I think that in the future the process will be accelerated if we see that it benefits the state. I am convinced that all the projects will be implemented very quickly,” the Belarusian minister of foreign affairs said.

At the same time, Vladimir Makei remarked that Belarus treats the privatization of certain state-owned enterprises with caution because the state is thinking about possible negative consequences. “We remember that some time ago people in certain countries stayed without work for several days. It is impossible for us because we have inherited strong enterprises producing all kinds of equipment such as freight vehicles, tractors, harvesters, agricultural equipment, etc. from the Soviet Union. We realize that sooner or later these enterprises will be privatized. And we receive many privatization proposals from various countries. First, it is impossible to sell these companies during economic crises. We understand it. Second, we do not want to sell these enterprises to the representatives of one country,” the minister said.

As for the process of privatization, the Belarusian side pays attention to many aspects, the diplomat remarked. In particular, we take into account such issues as the future plans of an enterprise, changes in the personnel number, the volume of tax payments, the innovative aspect of production.

“Of course, we would like to attract as many capital investments to the country as possible. But the investment object should be chosen taking into account the interests of the state and Belarusian people,” Vladimir Makei said.

According to the minister, it is also important for the state to make sure that people will not lose work as a result of privatization. “But once again, if we are ready to give them work at our new enterprises, I do not see any problems for the implementation of the privatization program. That is why I am saying that we need to be very careful. We are not ready to launch the program of overall privatization in Belarus right now. We need to proceed carefully. If we see that the privatization variant proposed by the EBRD suits us the entire process will be accelerated significantly,” the diplomat concluded.