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Vitebsk Oblast plans to launch construction of large agricultural enterprises in 2018

Economy 29.12.2017 | 10:03

VITEBSK, 29 December (BelTA) - Construction of a number of large agricultural enterprises in Vitebsk Oblast will begin in 2018, Chairman of the Vitebsk Oblast Executive Committee Nikolai Sherstnev told the media, BelTA has learned.

The governor said that the groundwork has been laid this year for economic growth on all fronts in 2018. “We had an increase across all indicators. In 2018 we will move forward in agriculture and in industry. We will begin the construction of a number of facilities in the agricultural industry such as o dairy and pig farms. We will continue upgrading meat and dairy enterprises. In addition, the Chinese corporation will invest $400 million in the construction of dairy farms and milk processing enterprises,” Nikolai Sherstnev noted.

Speaking about the cooperation with China, the Vitebsk Oblast governor said that the matter is about foreign direct investment. “Chinese enterprises will be built. We will get new jobs and taxes to the budget. But the most important thing is that through the Chinese corporation we will be able to branch out into the dairy market of that country. China is a huge market. It is necessary to form partnerships, determine competitive prices and work,” the governor stressed.

The Vitebsk Oblast Executive Committee and China's DRex Food Group Co., Ltd signed a $400 million investment agreement. The deal was sealed by Vitebsk Oblast Governor Nikolai Sherstnev and DRex Food Group President Dai Shiwei.

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