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Opinions & Interviews

19 Oct 2017

Plans to develop regional economic growth centers in Belarus

Plans to develop regional economic growth centers in Belarus

MINSK, 19 October (BelTA) – We can develop more than 60 centers of economic growth in regions across Belarus, Economy Minister Vladimir Zinovsky said opening the 18th international scientific conference on 19 October to discuss the problems in forecasting and state regulation of the country’s social and economic development, BelTA has learned.

The minister stressed that a smart regional policy should play an important factor in the country’s economic growth. Such a policy should include three complementary vectors. “The first one is the development of economic growth centers in promising regions and cities. The analysis of the Research Institute of Economy at the Economy Ministry shows that more than 60 such centers can be set up in Belarus to cover two thirds of the country. The second vector is the creation of jobs outside the economic growth centers within hour’s reach. The third vector is the creation of favorable conditions across the country, which will require well-developed modern infrastructure,” he explained.

According to Vladimir Zinovsky, the country needs system solutions, first of all, to the investment activity. “This task can be addressed only based on the close coordination of sci-tech, industrial and regional policies,” he noted.

As an example, Vladimir Zinovsky cited a plan of regional industrialization. The plan is being developed by the Research Institute of Economy at the Economy Ministry. The plan relies on three blocks. “The first one is to determine the priority types of economic activities, technological niches, and to map out corresponding projects to business. The second one is to distribute the selected projects taking into account the specifics of the regions, their personnel, manufacturing and resource potential. One of the main conditions is balanced development of regions. The third one is to develop a package of stimulus measures for the implementation of projects at the national and regional levels,” he said.

The minister stressed that the focus on small and medium-sized business is part and parcel of the state’s long-term strategy. “Our goal is to increase the share of SMEs to 50% by 2030,” he said.

Vladimir Zinovsky also outlined today’s key tasks that require active participation of the economic science. These tasks are to improve the sectoral, technological and territorial structures of the economy to make it more resilient to external shocks, develop methods for the generation of innovative investment projects with high-performing jobs, set up a well-developed institutional environment, and improve forecasting methods.


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