/ / News

Investment project to produce cars in Belarus signed with China’s Geely

MINSK, 2 January (BelTA) - The investment project to set up a car production facility in Belarus was signed with China’s Geely Automobile Holdings Ltd., Deputy Economy Minister of Belarus Alexander Yaroshenko said in an interview with the Belarus 2 TV channel, BelTA learnt from the public relations department of the Economy Ministry.

“With the participation of the Chinese side there was signed the investment contract to produce cars by the Chinese Geely company and BelAZ,” Alexander Yaroshenko said.

Speaking of foreign investment, Alexander Yaroshenko reported that a number of new projects will be launched in 2012. Other landmark investment projects will be continued too. “In the power engineering industry this is the start of construction of the nuclear power plant. There are other significant projects, including those financed with Chinese loans. These are the projects implemented at the Bereza and Lukoml state district power plants. We are also planning to improve the crude oil upgrading index at Naftan, he noted.

Several projects are in progress in timber industry. "These are projects with Kronospan and with a Lithuanian firm. All these are important investment projects, which we believe will strengthen our positions in terms of raising foreign direct investment, and developing the internal capacity for the development of our economy,” Alexander Yaroshenko said.

Alexander Yaroshenko spoke of other targets of the socio-economic development forecast for 2012. Thus, wages in nominal terms, according to the Government estimates, are expected to increase by more than 70% on average during the year, and in real terms by more than 4%. “I want to draw attention to the fact that we put wages at the forefront as we believe they should become the main motivating factor in the development of production. Our task, the task of the state, is to ensure that a citizen of Belarus is able to use his skills to earn decent wages, to provide a decent standard of living for himself and his family,” Alexander Yaroshenko said.