MINSK, 10 February (BelTA) – Business idea catalysts are needed to encourage investment, Belarus' Economy Minister Aleksandr Chervyakov said as he met with heads of district executive committees of Mogilev Oblast to discuss investments in the region in 2021 and measures to be taken this year to attract investment, BelTA learned from the website of the Economy Ministry.
The participants of the meeting considered major investment projects in local economies. It turned out during the discussion that a number of districts need to radically revise their investment programs.
The minister recalled that, taking into account the instructions voiced by the head of state during his annual Address, it is necessary to focus on export-oriented projects in the manufacturing industry capable of creating 100-150 jobs and giving a fresh impetus to regional development. At the same time, wages in such companies should not be lower than wages in other companies in the same industry.
Aleksandr Chervyakov noted that work is underway to significantly improve the legal framework and create a favorable business environment in the run-up to a new investment cycle. This is a necessary, but not sufficient condition to encourage businesses to launch new projects.
“Business idea catalysts are needed to grow investment. Investor success stories can be used as such catalysts. Each region has such positive experience. It should be systematized and assessed and a decision should be made whether such experience can be scaled up and if so what institutions and infrastructure are needed to back it up. And, ultimately, this experience should be shared with other businesses,” the minister emphasized.
