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26 January 2024, 14:21

Belarus to support enterprises running import-substituting projects

Yuri Chebotar. An archive photo
Yuri Chebotar. An archive photo
MINSK, 26 January (BelTA) - The government will continue supporting enterprises that implement import-substituting projects, said Belarus’ Economy Minister Yuri Chebotar during his visit to enterprises of Amkodor Holding Company in Logoisk District, BelTA learned from the Economy Ministry's press service.
The economy minister and the company's management discussed the possibilities of increasing the output of domestic products that can replace imported equipment and components. They also touched upon export-related matters.
"The updated law on investments offers mechanisms to support projects. They include an expanded package of benefits and preferences, the purchase of part of the output by the government, as well as assistance from the budget. The list of products classified as import-substituting features more than 2,700 items: from foodstuffs to sophisticated products. Producers of such goods can also claim state support on favorable terms," Yuri Chebotar said.
According to him, this year support for exporters under new contracts will be expanded under Presidential Decrees No.534 and No.466.
The list of integration projects remains open. The production of goods that are in demand in the Union State can also be additionally financed through this mechanism.
“Therefore, the state will continue to support competitive enterprises that are ready to implement new promising projects, increase production and export potential,” the minister concluded.
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