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20 May 2016

Slovakia plans to invest in timber industry in Gomel Oblast

GOMEL, 20 May (BelTA) - Slovakia has plans to invest in a project to set up an advanced woodworking enterprise in Gomel Oblast, Ambassador Extraordinary and Plenipotentiary of Slovakia to Belarus Jozef Migas said prior to the plenary meeting of the Gomel Economic Forum, BelTA has learned.

“The Slovak company is ready to invest in the project to create a modern company to process hard wood, particularly oak, which the region has in abundance,” Ambassador Jozef Migas said.

The matter is about an innovative enterprise that will operate a Slovakia-designed automated waste-free line (worth €2-2.5 million) for the processing of wood. “We would like to manufacture not just semi-finished products but high-quality wood furniture, which is in demand worldwide today, and which could successfully compete in the Western European markets,” Ambassador Jozef Migas said

He added that it is early to talk about any details of the project yet. A number of factors need to be examined first which the payback period of the project will depend on, and then proceed to concrete negotiations with concrete companies.

The 13th Gomel Economic Forum which opened in the regional capital on 20 May has gathered a record number of participants: almost 300 delegates from 29 countries. Among the participants are official delegations, members of embassies, workers of banking and financial establishments, businessmen. Interest in the forum was shown from highly developed countries such as China, Germany, France, Italy, Netherlands, and Austria. For the first time, the event in Gomel is attended by representatives of Ireland, Croatia, Kyrgyzstan, Uzbekistan, and Syria. Eleven documents worth $ 303 million are expected to be signed during the plenary meeting.

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