MINSK, 31 August (BelTA) – Shanghai is interested in Minsk's experience concerning the development of small and medium private companies. Details of the state support for these companies were discussed as Minsk Vice Mayor Alexander Krepak met with a delegation of the Shanghai Municipal Finance Bureau on 31 August, BelTA has learned.
At the beginning of the meeting Alexander Krepak informed the guests about the development of small and medium private companies in Minsk. “About 42,000 legal persons and roughly 72,500 self-employed businessmen work in Minsk. Their contribution to the city budget is close to 40%. The main spheres of business are retail, manufacturing, civil engineering, and transportation,” said Alexander Krepak. Measures are taken at the levels of the central government and municipal government agencies to remove barriers in order to improve the operation of the private sector. “Apart from that, it helps resolve the unemployment issue: we fight for every job we can give to our citizens,” concluded the Minsk vice mayor.
Gu Hongxiang, deputy head of the Shanghai Municipal Finance Bureau, noted that Belarus-China relations develop rapidly across the board. He underlined the importance of interaction at the level of individual cities. “We have already managed to hold a number of business meetings. What we've seen and heard, it seems to me, indicates what huge attention is paid to the development of small and medium private companies in Belarus and Minsk. Particularly the legislative support. It is important for raising people's living standards,” said Gu Hongxiang. In his words, the share of small and medium private companies is very large in Shanghai. SMEs contribute a lot to the city's economy. A law on promoting and developing small and medium companies has been passed and a special fund has been created. However, all of it is not enough to resolve the problem of financing a business in distress. The Shanghai partners believe that Minsk's experience such as financial guarantees and participation in investment programs looks particularly useful.
The Shanghai delegation is in Minsk on a three-day visit. The day before the delegation visited the Hi-Tech Park, got familiar with places of interest in the Belarusian capital, and went to some museums. The delegation will spend the final day of the visit in Mir and Nesvizh.
BelTA reported earlier that Minsk will welcome about 80 Shanghai companies during the Belarus-Shanghai business forum Sail of Shanghai on 10 September. The heads of administration of the two cities are expected to sign a cooperation agreement during the first China International Import Expo in November.
