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29 Apr 2017

Vitebsk Economic Forum to help small business find major investors

VITEBSK, 29 April (BelTA) – The 6th Vitebsk Economic Forum entitled “Innovations. Investment. Prospects” is designed to help small business find major national and foreign investors, Chairperson of the Economic Committee of the Vitebsk Oblast Executive Committee Anzhelika Nikitina said at the press conference timed to the upcoming forum on 29 April, BelTA has learned.

The event will take place in Vitebsk on 11-12 May. The Vitebsk Sports Palace will become the forum’s main venue and will feature expositions of the towns and district centers of Vitebsk Oblast, and international exhibitions. Special emphasis will be placed on small manufacturing business. “Consulting centers that will be set up in the palace’s hall will provide services to associations, business support centers, small business incubators as well as banks that offer credits to small- and medium-sized business. This information will be useful both for Belarusian and foreign investors. Private business is interested in expansion but is still afraid to get loans. Although such cooperation is very promising,” Anzhelika Nikitina noted.

She clarified that European and other countries tend to set up major companies that gather small enterprises around and cooperate with them. This niche is occupied by proactive private entrepreneurs. “I believe that further development of Belarus’ manufacturing is closely linked to cooperation with major foreign partners. This is a possibility to start a small manufacturing business and at the same time get access to common raw materials, technologies, and large distribution network. Such enterprises are much more competitive,” Anzhelika Nikitina remarked.

The Vitebsk Economic Forum will open up other possibilities for small- and medium-sized enterprises. They will find out more about major investment projects and will be able to sign contracts and offer their services. The program of the event includes a presentation of the Vitebsk Oblast’s investment potential, the international research and training conference “Energy and resource conservation 2017”, and the 14th National Ecology Forum that will feature exhibitions, theme sections and workshops. The event is expected to gather official delegations of towns and regions, diplomatic service, and representatives of business associations and companies from 14 countries.

The forum is organized by the Vitebsk Oblast Executive Committee and Vitebsk City Hall, the Vitebsk Oblast Committee for Natural Resources and Environment, the regional office for sustainable use of fuel and energy, the Vitebsk Oblast marketing center, and the FEZ Vitebsk administration.

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