Belarus to establish first state corporation of 30 agricultural machinery makers – Economy Ministry
<p> MINSK, Jan 19 - PrimePress. Belarus plans to establish the first pilot state corporation, which will unite 30 companies of the agricultural machinery industry with total revenue of over Br3 billion ($1.175 billion at the rate of National Bank of Belarus), Minister of Economy of Belarus Alexander Chervyakov told reporters on January 19, 2021 during the presentation of the focus points of the social and economic development of Belarus program for 2021-2025. </p> <p> </p> <p> The Economy Ministry expects the first state corporation to become a significant actor in the world market of agricultural machinery. </p> <p> </p> <p> As previously reported, according to the action plan of the Belarusian government for the period to 2025, seven state corporations will be established in the first quarter of 2021: in agricultural machine building, manufacture of vehicles and light industry (one each), and in food and wood processing industries (two each). The corporations are to unite more than 100 organizations, which account for over 7% of industrial output and employ around 13% of workers. It is planned to set up a Belarusian Glass Company Holding in 2021, which will unite Gomelsteklo JSC, Neman Glassworks (Lida District, Grodno Oblast), Grodno Glass Plant, and Belmedsteklo (Borisov, Minsk Oblast). In 2021-2022, the government intends to engage in financial recovery of public sector organizations by reducing the debt burden, loan servicing costs, improving the financial performance of the public sector, and reducing fiscal risks to the budget. End </p>
2021-01-20
Primepress
Belarus to establish first state corporation of 30 agricultural machinery makers – Economy Ministry
MINSK, Jan 19 - PrimePress. Belarus plans to establish the first pilot state corporation, which will unite 30 companies of the agricultural machinery industry with total revenue of over Br3 billion ($1.175 billion at the rate of National Bank of Belarus), Minister of Economy of Belarus Alexander Chervyakov told reporters on January 19, 2021 during the presentation of the focus points of the social and economic development of Belarus program for 2021-2025.
The Economy Ministry expects the first state corporation to become a significant actor in the world market of agricultural machinery.
As previously reported, according to the action plan of the Belarusian government for the period to 2025, seven state corporations will be established in the first quarter of 2021: in agricultural machine building, manufacture of vehicles and light industry (one each), and in food and wood processing industries (two each). The corporations are to unite more than 100 organizations, which account for over 7% of industrial output and employ around 13% of workers. It is planned to set up a Belarusian Glass Company Holding in 2021, which will unite Gomelsteklo JSC, Neman Glassworks (Lida District, Grodno Oblast), Grodno Glass Plant, and Belmedsteklo (Borisov, Minsk Oblast). In 2021-2022, the government intends to engage in financial recovery of public sector organizations by reducing the debt burden, loan servicing costs, improving the financial performance of the public sector, and reducing fiscal risks to the budget. End