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Holding company development order approved in Belarus

MINSK, 28 February (BelTA) – The order of setting up and developing holding companies in the Industry Ministry of Belarus has been approved by Decree No.113 “Concerning the issues of setting up holding companies and state organizations in the Industry Ministry” signed by Belarus President Alexander Lukashenko on 27 February, BelTA learnt from the presidential press service.

Under the document, the government is given the right to decide upon depositing into the authorized funds of management companies assets owned by the Republic of Belarus at nominal value.

The document envisages the purchase of feedstock and materials by the participants of the holding company through the management company in order to reduce production costs.