MINSK, 12 June (BelTA) – A Chinese company plans to invest its funds in the Bank Moscow-Minsk, manager for Belarus at DRex Food Group Zoya Kavaleva told the media after the talks with Belarus Agriculture and Food Minister Leonid Zayats on 12 June, BelTA has learned.
“We would like to invest in the bank. We want to buy a stake in the bank or some share in it,” said Zoya Kavaleva.
During the talks President of Xinrongji Holding Group Nian Yunan asked to convey an invitation to the leadership of the Bank Moscow-Minsk to visit China and get familiar with the work of the company. He stressed that the financial sector is of high importance for Chinese investors. “We would like to set up two companies in Belarus. One of them will be an investing one. The company will invest in Belarus, including in the banking activity of your country,” he noted.
As BelTA earlier reported, the Bank Moscow-Minsk is undergoing a pre-privatization period. The European Bank for Reconstruction and Development provides its support. The memorandum of understanding between the National Bank of Belarus and the European Bank for Reconstruction and Development on the privatization of the bank was signed on 28 September 2016. It is expected that the controlling interest in the bank will be sold to a strategic investor before 1 January 2020.
The heads of China's big companies Xinrongji Holding Group and DRex Food Group are in Belarus on a working visit. They are ready to invest up to $1 billion in the modernization and construction of new companies in Belarus. A protocol on cooperation is expected to be signed at the end of the visit.
The Belarusian Agriculture and Food Ministry signed a memorandum of understanding with China's corporation DRex Food Group in Beijing in May on $1 billion worth of FDI in the agricultural sector of Belarus. The corporation plans to invest in the development of the dairy sector of Belarus, in particular in the construction of dairy farms and modernization of processing companies.
