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Opinions & Interviews

17 Feb 2014

Ulakhovich: Many Belarusian companies are ready to play on the world stock market

Ulakhovich: Many Belarusian companies are ready to play on the world stock market

MINSK, 17 February (BelTA) – Many Belarusian companies are ready to become major players on the global stock market. The opinion was voiced by Vladimir Ulakhovich, Deputy Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI), at the roundtable session held by the Chamber on 17 February to discuss IPO peculiarities, BelTA has learned.

The official noted that the event gathered representatives of major Belarusian companies, including BelAZ, Belshina, Krinitsa, Belarusian Railways, and Belenergo. The fact indicates that the largest contributors to the state budget are ready to become global players on the international stock market and manage capitals, which are not generated by the state budget but by sales of merchandise, the demand for the brand, and the image of the companies, believes Vladimir Ulakhovich.

The official stressed that raising stock capital is an important matter for Belarus and Belarusian companies are well aware of the Belarus government’s view in favor of pouring more efforts into this process. “However, it is a complicated process. It requires serious preparations because it involves a lot of restructuring of the traditional management. But for our country it is an obvious instrument to raise investments, increase labor productivity of our enterprises, and form the domestic stock market,” noted the BelCCI representative. He said he believes that the penetration of stock capital markets will contribute to the modernization of Belarusian enterprises.

In turn, Belarusian Deputy Economy Minister Dmitry Golukhov noted that IPO matters have been shifted into the spotlight in Belarus in the last few years. “Now it is time to move on to serious actions and practice. Many documents now stipulate the components to improve the country’s financial market, the legislation and corporate management,” he remarked.

The Deputy Economy Minister reminded that the joint action plan worked out by the government and the National Bank in late 2013 also includes the preparation of a number of highly-liquid stock corporations for the penetration of foreign stock markets via IPO. The action plan also includes the constant availability of shares of Belarusian companies at the stock exchange.

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