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23 June 2016, 11:04

Belarus' private business urged to focus on industrial goods, services

MINSK, 23 June (BelTA) – Private business needs to focus on the production of industrial goods and services, Deputy Chairman of the Belarusian Entrepreneurship Development Council, delegate to the 5th Belarusian People's Congress Sergei Novitsky said in an interview to the Belarus One TV channel, BelTA has learned.

“The number of small and medium-sized enterprises has increased by almost 30% over the past five years. The major goal for the next five years is to improve the quality contribution of these companies to the country's economic development. We should increase the contribution of SMEs to gross value added from 28% to at least 40%,” said Sergei Novitsky. This means that private business, including small enterprises, should focus on the production of industrial goods and services, and not just trade.

In his words, the head of state and the government give full attention to the development of this initiative. It pertains to both private business and state companies. “It does not matter for the state whether it is a state-run or private company. It should make its contribution to the economic development of Belarus,” stressed Sergei Novitsky.

On the whole, the country's social and economic development program for 2016-2020 is a shift from directive to indicative planning. “This means the state creates conditions for business development and initiative. Companies that are engaged in the manufacturing of goods or providing services should earn money. Profit is the best indicator of their efficient work,” Sergei Novitsky said.

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