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04 May 2016, 18:56

Expert: Import substitution should become a priority for the next five years

MINSK, 4 May (BelTA) – Import substitution should become one of the key economic policy priorities for the next five years, Bronislav Fialkovsky, Deputy General Director for Production at Henkel Bautechnik, told BelTA.

“Import substitution should become one of the key economic policy priorities for the next five years. It is likely that the matter will be thoroughly considered at the 5th Belarusian People's Congress during the discussion of the economic development strategy,” Bronislav Fialkovsky said. He believes that import substitution will be paid special attention to, as this process helps create new jobs. Moreover, all present-day developed economies primarily rely on the domestic demand and the development of the internal market, the expert pointed out.

Bronislav Fialkovsky noted that Henkel Bautechnik manufactures a wide range of building and finishing materials. The share of local raw materials (sand, concrete, chalk, lime and dolomite) in the company's products ranges between 90% and 99%. Henkel Bautechnik imports only some specific materials that are not produced in Belarus. Bronislav Fialkovsky emphasized that the state support provided to the enterprises oriented at import substitution is a powerful encouragement tool.

As for the production of dry building mixtures and the manufacture of construction materials in general, Bronislav Fialkovsky said that in Belarus these sectors are well-developed and competitive. “On the market there are a couple of major players and a dozen and a half smaller ones. The sector continues developing and receiving investment. New products emerge. In 2015-2016, our company invested $500,000 in a new packaging line,” Bronislav Fialkovsky said.

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