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16 May 2024, 09:44

Belarus’ Economy Ministry: “One District - One Project” initiative might be extended

MINSK, 16 May (BelTA) – Deputy Head of the Investment and Construction Directorate of the Economy Ministry Dmitry Klimenkov told BelTA’s The Nation Speaks project about the possibility of extending the “One District - One Project” initiative.

“We believe that the program might go on, it has potential. If more than two projects are running in a district at the moment, they might continue through the next five-year period. Time will tell how this initiative will be called, but it has certain development potential,” Dmitry Klimenkov said.

When asked if there are loss-making manufacturers in the program, the official admitted that this is possible. “After completion of the investment stage, we might see losses associated, among other things, with significant project costs and debt repayment. And it is impossible to reach the design capacity overnight; it takes up to a year for some projects to do it. Naturally, at some stage, a project may fall in the red, but this does not mean that it will remain so in the future. This happens. Some projects are more profitable, some are less profitable, it all depends on markets, on managerial efficiency. In general, so far all implemented projects generate profit,” he emphasized.
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