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Opinions & Interviews

6 Aug 2014

Snopkov: Success of Belarusian economy will depend on business share in the production sector

Snopkov: Success of Belarusian economy will depend on business share in the production sector

MINSK, 7 August (BelTA) – The success of the Belarusian economy in the mid-term will depend on an increasing share of business in the production sector, Economy Minister of Belarus Nikolai Snopkov said at the Council of Ministers meeting on 6 August, BelTA has learned.

“The increase in the share of the private business in the production sector will lead to higher productivity and stronger competition,” the minister said.

Nikolai Snopkov put the main emphasis on regional development. “Setting up of new companies is one of the conceptual vectors for growth during the ongoing five-year period (2011-2015). Over the last three years the number of micro and small enterprises in the production sector of the country has increased by 1,661 companies (or 16%). Today there are almost 12,000 such organizations in the country and over 40% of them are located in Minsk Oblast,” Nikolai Snopkov noted.

According to the minister, the development of a new economy would allow for leveling down the losses of the state-run profit-making enterprises. “If outsiders (districts – BelTA’s note) had grown in quantity and quality in terms of industrial micro- and small enterprises, the same as Minsk Oblast did, it would have added 1% to the GDP growth by now. We would have seen a different pace in regional development, too,” Nikolai Snopkov said.

In his words, this year oblast authorities have been instructed to set up industrial companies with the personnel of at least 15 people on the basis of one enterprise per 10,000 residents. A total of 488 companies should be developed across the country. The minister stressed, however, that the activity is still weak. Three organizations have been set up in Gomel Oblast so far, and seven companies in Grodno and Brest Oblasts each. “The efforts to create production platforms, hence the conditions for setting up manufacturing enterprises have failed, which no doubt makes its effect on the development of small business and regions in general,” the minister said.

Minsk Oblast is the only region that has provided its plans on the development of production platforms for 2015-2017. The oblast named the number of planned companies and calculated their area and costs for infrastructure, which according to the Economy Minister, is a serious step towards receiving financial support.

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