MINSK, 29 April (BelTA) - Belarus intends to develop a plan for the industrialization of the regions, Belarus Economy Minister Vladimir Zinovsky said during the meeting of the ministry's board to examine the regional economic development, BelTA has learned.
“The systematic strategic solutions will help the regions reach a new level of development as a result of rebooting the investment activity which would rely on the favorable business climate and the regional industrialization plan,” the minister said. The plan will be implemented in three stages.
The minister explained that the first stage involves the measures to develop a portfolio of investment projects and proposals. This work will be carried out in four areas. Firstly, it is necessary to use the potential of the Eurasian Economic Union in part of replacing imports coming from third countries to this market. Secondly, there is a need to step up cooperation with China on the projects implemented in the industrial park Great Stone and to encourage Chinese companies to participate in the share capital of Belarusian enterprises. There is also a need to align the Belarusian national sustainable development strategy by 2030 with the Chinese strategic programs Made in China and Internet +. The scientists have already identified the areas of cooperation. Third it is necessary to reformat the integrated forecast of scientific and technical progress which must include the development plans (in the form of specific manufactures). The fourth area is the development of investment portfolios. These will be local initiatives which will be submitted by groups of experts consisting of representatives of the government, business and science.
According to Vladimir Zinovsky, the second stage of the plan will include the distribution of investment proposals and projects among the regions, proceeding from their specialization and potential. One of the main conditions here is to secure well-balanced regional development. The third stage will envisage the development of measures for every region to attract investors.
“The implementation of these three stages will help businessmen develop a map of opportunities and will also help them decide on where to invest and on what terms to do it. This is a new area of the economic policy to secure sustainable growth and enhance people's living standards,” the minister said.
As BelTA earlier reported, from 27 March to 11 April, the working groups of the Economy Ministry, the Labor and Social Security Ministry and the Architecture and Construction Ministry traveled around the country's regions to examine the local problem and to develop prompt and strategic measures to facilitate economic growth. The groups, which were chaired by the Deputy Economy Minister, included representatives of the government, the National Agency for Investment and Privatization, and the Research Institute of economy at the Economy Ministry of Belarus.
