Belarus comes to innovative solutions in economic modernization

MINSK, 21 September (BelTA) – A number of innovative solutions in economic modernization have been adopted in Belarus, Economy Minister Nikolai Snopkov told media on 20 September.

We should understand the difference between economic modernization and the modernization of an operating enterprise, the minister said. “Modernization of the economy means changing conditions and rules which the state sets to stimulate development. All the recent decisions taken by the President are in fact innovative as they alter stimulation conditions based on higher efficiency of an enterprise taking into account competition, priority branches and performance results,” Nikolai Snopkov said.

Thus, the recent documents provide for conditions that allow modernize the economy in general, the minister emphasized. “Among them is Decree No.253 on the Chinese-Belarusian Park. We consider this document as a fundamental and new business area for us. Decree No.6 envisages sustainable development of the rural area and small towns. Decree No.231 forms conditions to support companies in the implementation of investment projects. Decree No.357 concerns innovation funds and the relevant conditions for the companies to receive their support,” Nikolai Snopkov said.

“All the abovementioned makes a basis for further economic development of the country and modernization of an operating enterprise,” the minister stressed.

The Economy Ministry sees two criteria in assessing the results of the upgraded company, Nikolai Snopkov noted. It is the ability to find markets and reach the necessary value added level to meet the European standards.