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05 September 2022, 10:10

Opinion: Private business has many opportunities, preferences in Belarus

MINSK, 5 September (BelTA) - Private business in Belarus has many opportunities and preferences, yet it must fulfill its obligations, economic analyst Georgy Grits told the V Teme [On Point] project on BelTA's YouTube channel.

According to Georgy Grits, the theme of Miory Rolling Mill and OAO MotoVeloZavod in Minsk have become popular in the media thanks to the president's visits there. “Sometimes they say that the government keeps everything, but it is not true. I can give several examples of the implementation of projects within the framework of public-private partnership with a high level of state support. The government behaves in a very balanced way; it does not sell out state property for next to nothing. At the same time, it trusts the private sector: you are welcome to conclude an investment agreement, have preferences, but you need to justify them. In these very cases, the private sector has not fulfilled its obligations,” he said.

“We can see from the concrete examples of two plants that the state put its shoulder to the private sector. And who cheated? Did the state take away a successful business? In both cases, bankruptcy proceedings began, and only then did the state come in. The state is still putting money into this enterprise to pay off the debts of the people who drove it into bankruptcy,” the economic analyst said.

“The manager must see the problem as a whole, not just a part of it. That is exactly the comprehensive vision of the president of Belarus. There is a need for effective management at factories. It is important to have a broad outlook, especially amid sanctions,” said Georgy Grits.

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