Home
/ News
26.12.2023
61 investment projects implemented in Belarus in January-September
MINSK (
BelTA) – As many as 812 manufacturing projects worth a total of about Br48 billion are being implemented in Belarus this year. The volume of investments earmarked for 2023 is Br6.2 billion. The realization of 61 investment projects was finished in January-September, including 11 projects ahead of schedule. Over Br4.5 billion was spent in the entire period of their implementation, First Deputy Economy Minister Yuri Chebotar told the Economy of Belarus magazine in an interview.
Yuri Chebotar said: “Promising and effective manufacturing facilities that rely on locally available resources and are designed to make the kinds of products that sell well in Belarus and abroad, the well-developed social and transport infrastructure are priority avenues of development of our country. The largest projects in the petrochemical industry include the complex for the hydrocracking of heavy oil residue, the construction of an oil residue delayed coking plant, the creation of an enterprise to make technical carbon. The largest project in light industry is a new enterprise to make competitive fabrics of the business class and the economy class. Efforts to increase the output capacity of poultry factories represent the largest project in the food industry.”
Major power engineering projects are scheduled for completion in Vitebsk Oblast: the construction of wind farms in Senno District and a backup and peaking power source at the Lukoml state district power plant in Chashniki District.
The implementation of investment projects allows creating not only unique products but also reducing dependence on imports. As an example Yuri Chebotar mentioned the production of technical carbon, without which it is impossible to make tires of all kinds, rubber goods, plastics, polymers, and artificial fibers. With the local enterprise up and running, Belarus will be able to gradually phase out imports from Russia and China.
As for the spheres where investments are flowing to, those are traditional ones: agriculture and manufacturing sector. The latter include food industry, light industry, woodworking industry, pharmaceutical industry as well as the production of machines and metallurgy. All of the things that ensure the technological security and food security of the country.
The official went on saying: “It is obvious that in current conditions the state has become the key player on the investment field. The lion's share of investments comes from domestic sources. Virtually half of them (45 %) are proprietary assets of enterprises. In January-September 2023 the growth rate of foreign investments in Belarus totaled 113.6 % as against the same period of last year. Most of them came from the Eurasian Economic Union (64.5 %) and the European Union (27.8 %). As for the head of state's initiative ‘One district – one project', the regions are very interested in getting into this list. We started with 129 projects. We now have 156 worth Br5.6 billion. In 2024 the number will rise to 190 worth Br8 billion and over 9,500 jobs. As many as 33 projects with the volume of investments in excess of Br255 million are supposed to commission in 2023.”
Despite all the problems with importing equipment and technologies amid sanctions, 70 % of all the projects are on track. Investment spending proceeds ahead of schedule. In terms of the number of finished projects the leaders are Gomel Oblast, Mogilev Oblast, and Vitebsk Oblast.
The most promising projects aimed at the development of the regions and at import substitution receive support in the shape of loans from the Development Bank of the Republic of Belarus and partner banks on acceptable terms. The allocation of nearly Br1 billion in loans has been authorized.
Yuri Chebotar said: “Promising and effective manufacturing facilities that rely on locally available resources and are designed to make the kinds of products that sell well in Belarus and abroad, the well-developed social and transport infrastructure are priority avenues of development of our country. The largest projects in the petrochemical industry include the complex for the hydrocracking of heavy oil residue, the construction of an oil residue delayed coking plant, the creation of an enterprise to make technical carbon. The largest project in light industry is a new enterprise to make competitive fabrics of the business class and the economy class. Efforts to increase the output capacity of poultry factories represent the largest project in the food industry.”
Major power engineering projects are scheduled for completion in Vitebsk Oblast: the construction of wind farms in Senno District and a backup and peaking power source at the Lukoml state district power plant in Chashniki District.
The implementation of investment projects allows creating not only unique products but also reducing dependence on imports. As an example Yuri Chebotar mentioned the production of technical carbon, without which it is impossible to make tires of all kinds, rubber goods, plastics, polymers, and artificial fibers. With the local enterprise up and running, Belarus will be able to gradually phase out imports from Russia and China.
As for the spheres where investments are flowing to, those are traditional ones: agriculture and manufacturing sector. The latter include food industry, light industry, woodworking industry, pharmaceutical industry as well as the production of machines and metallurgy. All of the things that ensure the technological security and food security of the country.
The official went on saying: “It is obvious that in current conditions the state has become the key player on the investment field. The lion's share of investments comes from domestic sources. Virtually half of them (45 %) are proprietary assets of enterprises. In January-September 2023 the growth rate of foreign investments in Belarus totaled 113.6 % as against the same period of last year. Most of them came from the Eurasian Economic Union (64.5 %) and the European Union (27.8 %). As for the head of state's initiative ‘One district – one project', the regions are very interested in getting into this list. We started with 129 projects. We now have 156 worth Br5.6 billion. In 2024 the number will rise to 190 worth Br8 billion and over 9,500 jobs. As many as 33 projects with the volume of investments in excess of Br255 million are supposed to commission in 2023.”
Despite all the problems with importing equipment and technologies amid sanctions, 70 % of all the projects are on track. Investment spending proceeds ahead of schedule. In terms of the number of finished projects the leaders are Gomel Oblast, Mogilev Oblast, and Vitebsk Oblast.
The most promising projects aimed at the development of the regions and at import substitution receive support in the shape of loans from the Development Bank of the Republic of Belarus and partner banks on acceptable terms. The allocation of nearly Br1 billion in loans has been authorized.