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Plan to develop underperforming regions of Belarus to feature 280 projects
MINSK, 27 August (BelTA) – As many as 280 projects have been earmarked for inclusion into the plan designed to develop underperforming regions of Belarus, BelTA learned from Belarusian Economy Minister Dmitry Krutoi during the session of the Council of Ministers’ Presidium held on 27 August to discuss the plan.
According to the source, a package of 280 projects has been put together. Roughly 54 projects will be created from scratch. Some 80 projects provide for investments in existing enterprises. As many as 140 projects target infrastructure (about 30% -- industrial infrastructure, the rest – social facilities).
The Economy Ministry believes that the volume of investments and respectively all the other indicators (earnings per worker, the level of salaries) will grow higher than the average in the oblasts these districts are located.
According to the economy minister, terms for investors in these underperforming regions represent one of the most hotly debated issues. “All things considered, the entire package of preferences is already in effect over there. All the districts are subject to the presidential decree on small towns in rural areas. The decree has its own fair share of tax incentives. Some districts contain parts of free economic zones. Projects will be implemented there as per instructions of the head of state. We cannot declare an entire district a free economic zone. Only specific manufacturing sites will be included into free economic zones. Primarily industrial enterprises will start working there,” Dmitry Krutoi said.
In his words, Belarusian investors will finance over 90% of the projects. The rest will be taken care of by foreign investors and international financial organizations, which primarily channel funds into the development of infrastructure, for instance, the construction of water deferrization stations or the conversion of boiler houses to locally available fuels, the promotion of alternative energy sources. World Bank money will be used to repair schools and hospitals.
The plan to develop underperforming regions will be stipulated by a Council of Ministers resolution. Its fulfillment will be monitored by the oblast administrations and the central government.
In addition to the 280 projects 224 investment proposals are under consideration. They are in essence business ideas, which need to be discussed with interested parties, sources of finance and timeframes need to be determined. They represent a potential pool of investments, which will enhance the economy of these regions, the economy minister explained.
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