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01 March 2024, 13:49

Belarus’ vice premier: Russia may allocate additional funds for new joint projects

MINSK, 1 March (BelTA) - Russia may allocate additional funds for the implementation of new joint projects, Belarusian Deputy Prime Minister Piotr Parkhomchik told the media ahead of the Industry Ministry collegium meeting on 1 March, BelTA has learned.

“Work on new joint projects is a constant process. Today we have 27 projects. Five have almost been approved. We have already allocated almost all the credit resources granted by Russia for the existing investment projects. During my recent meeting with Russian Minister of Industry and Trade Denis Manturov, it was stated that if there are new projects, additional funds will be found. This was also confirmed by Russian President Vladimir Putin at the recent meeting of the Supreme State Council of the Belarus-Russia Union State. We raised this issue then, and he pointed out that resources for new projects will be found,” Piotr Parkhomchik said.

According to him, the joint work has already yielded results. This can be clearly seen by the investments injected last year. “In line of the Industry Ministry, the figure makes up $1.83 billion. This is twice as much as in 2022. The most important thing is that within investment projects as part of the Union State integration, the main capital investments will be made in 2024-2025. This will be equipment supplies. There is confidence that the Industry Ministry will expand this year as well,” the deputy prime minister said.

According to Piotr Parkhomchik, this is a very serious impetus for the development of enterprises.  “Capital investments cover not only large regional cities and large enterprises. We mainly focused on regions and small towns. Additional jobs, additional capacity will be created there. Necessary measures will be taken to make the industry more efficient,” he said. “The decisions that were previously made within the framework of the Union State are beginning to work. We see how Integral and Planar are developing rapidly. For example, Integral has increased its production volumes 2.2 times in two years. Last year the average salary at the company reached Br3,300, while the salary averages Br2,171 across the enterprises of the Industry Ministry.”
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