Business news

MOGILEV, 4 November (BelTA) – Agreements on implementing projects worth $250 million were signed during the eighth international investment forum Mill of Success in Mogilev on 4 November, BelTA learned from Viktor Nekrashevich, Deputy Chairman of the Mogilev Oblast Executive Committee.

Ten main agreements on implementing various projects to the tune of $250 million were signed during the investment forum. These projects are nearly ready for launch. Most of the investments will be channeled into Mogilev Oblast’s southeast where four major investment projects are supposed to be implemented. The number includes the establishment of an enterprise to make corn seeds in Krichev District and the construction of solar and wind power plants in Cherikov District.

Lithuanian investors intend to build a waste processing factory in Bobruisk District in order to resolve the problem of solid municipal waste recycling in Bobruisk. The company UAB K.Trading has already won the tender and is poised to invest €30 million.

Negotiations were held during the forum in Mogilev to discuss the development of interregional cooperation with a focus on advancing mutual relations: mutual investments, manufacturing cooperation between private companies, and the establishment of joint ventures to make competitive products and sell them to third countries. Apart from that, an agreement on cooperation between the government of Russia’s Orel Oblast and the Mogilev Oblast administration was signed. A joint program was signed on advancing trade, economic, scientific, technical, and cultural cooperation between Mogilev Oblast and Poland’s Kujawsko-Pomorskie Voivodeship in 2017-2018.

The Deputy Chairman of the Mogilev Oblast Executive Committee noted: “We and the Polish side agreed to arrange a forum of representatives of business circles of Mogilev Oblast and Kujawsko-Pomorskie Voivodeship in Torun, Poland in spring 2017. We expect the forum to give a new impulse to the development of our relations in economic affairs.”

The forum will resume tomorrow, 5 November. Participants of the forum are expected to visit top companies in Mogilev Oblast and arrange business meetings on the spot. “We hope that new ideas and effective projects to implement in Mogilev Oblast and for the benefit of Mogilev Oblast will come out of it,” said Viktor Nekrashevich.

Apart from that, the official outlined the main trends of how the Mogilev Oblast economy is expected to develop in the future. Industrial clusters will be established. Innovative projects in the production sector will be implemented. Information technologies, logistics and tourism will be encouraged.

The investment forum Mill of Success gathered over 500 representatives of 32 countries in Mogilev.