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25 May 2016

Mogilev Oblast to work harder to attract German investors

MOGILEV, 25 May (BelTA) – Mogilev Oblast intends to put more efforts into promoting its investment potential and economic opportunities in Germany in order to increase the flow of German investments into the Belarusian region. Mogilev Oblast Governor Vladimir Domanevsky made the relevant statement as he met with Ambassador Extraordinary and Plenipotentiary of Germany to Belarus Peter Dettmar on 25 May, BelTA has learned.

According to the Governor, although the dynamics of economic cooperation between Mogilev Oblast and Germany is positive and Mogilev Oblast’s export to Germany and German investments in the region are on the rise, the potential for successful business cooperation has not been fully utilized. “We know that businessmen in Germany are not quite well-informed about our region and its economic capabilities. We intend to work harder to attract German business circles to our region,” noted Vladimir Domanevsky. “We are open to any dialogue and see good prospects for creating joint ventures and new high-technology enterprises involving German capital. We are also ready to consider the possibility of selling Belarusian enterprises to German businessmen.”

There are positive examples of German investments in Mogilev Oblast already. At present four companies with German capital work in the free economic zone Mogilev. The Belarusian-German joint venture Jockey Plastic Mogilev is most successful and invests considerable sums in its development every year. “We believe that in order to more actively advance mutually beneficial cooperation, it is necessary to establish tighter partnerships at the interregional level in all spheres of life, including education, sport, culture, and tourism. It will help our nations learn more about each other, establish friendly contacts. In turn, such factors always contribute to the development of economies and business cooperation,” believes the Mogilev Oblast Governor.

Vladimir Domanevsky asked the diplomat for assistance with organizing a meeting of representatives of German business circles with Mogilev Oblast businessmen and a presentation of Mogilev Oblast’s economic potential in the German-Belarusian Economic Club soon. The Governor also invited Peter Dettmar to take part in the international investment forum Success Mill that will take place in Mogilev in November 2016.

In turn, Peter Dettmar remarked that just like Belarus Mogilev Oblast has a great potential for advancing mutually beneficial cooperation with Germany. “Marketing specialists should work harder to promote the country and the region on the market. More German businessmen should learn about your capabilities and how they can work successfully here. Then the flow of investments from Germany will grow. At the same time it is necessary for German businessmen to clearly understand the working conditions and strategic prospects of development of the region and the country as a whole, the possibilities for Belarus’ integration into the international community,” said the diplomat.

On 25 May the Ambassador met with representatives of the administration and students of the A. Kuleshov State University of Mogilev. The Ambassador is also expected to hold negotiations with the administration of the free economic zone Mogilev and to get familiar with the operation of the Mogilev technological cluster.

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