Business news

25 Jul 2024

Belarus' Industry Ministry companies enter new markets in 2024

An archive photo

MINSK, 25 July (BelTA) – Deputy Industry Minister Andrei Kuznetsov named the markets that enterprises of the Industry Ministry penetrated this year as he spoke at a meeting of the board of the Industry Ministry that was held at Minsk Motor Plant and was attended by Deputy Prime Minister Piotr Parkhomchik, BelTA learned from the press service of the Industry Ministry.

Andrei Kuznetsov spoke in detail about the performance of the manufacturing sector in January – May this year. Thus, enterprises of the Industry Ministry now export to 60 countries. These include 15 markets where supplies were put on hold in January - May last year (Israel, Nicaragua, Mali, Iraq, Libya, Syria, Kuwait, Cambodia, etc.). Speaking about far arc countries, the deputy industry minister remarked that the Industry Ministry is increasing supplies to Egypt, Tunisia, Pakistan, Israel, Afghanistan, Vietnam, Iran, and Nicaragua.

Particular attention is paid to the African continent. “The Industry Ministry is working hard to build its presence in the most promising regions of Africa, Asia and Latin America as part of the drive to diversify sales markets,” said Andrei Kuznetsov.

The participants of the meeting scrutinized performance of enterprises of the Industry Ministry in the far arc countries.

Industry Minister Aleksandr Yefimov, in turn, drew attention to the lack of cooperation and coordination between enterprises of the Industry Ministry, especially between subsidiaries of holding companies. According to him, stronger contacts within the industry will help small enterprises grow and scale.

“Cooperation is a quick way to get results,” Aleksandr Yefimov emphasized. He said he wanted small enterprises gain momentum and grow faster. “What are you doing to expand cooperation? We need to make the most of our reserves as we work towards this goal.”

The minister reminded the participants about the triple 'i' formula in the work of the industry. “Investment, innovation, import substitution are our future and new opportunities,” he said.

The general performance of the industry, including its foreign economic activity in H1 2024, was discussed by the board of about 150 people. Those were heads of enterprises affiliated with the Industry Ministry, the central office of the ministry, as well as representatives of a number of departments and organizations of the country. Before the start of the meeting, Director General of Minsk Motor Plant Aleksandr Botvinnik showed Deputy Prime Minister Piotr Parkhomchik and Industry Minister Aleksandr Yefimov an exposition of engines and special equipment made by the enterprise.

Piotr Parkhomchik noted that enterprises of the Industry Ministry should pursue a more aggressive marketing policy and explore new points of growth. He also urged to ensure a comprehensive approach to interaction with all enterprises, regardless of their scale and output. He also believes that they need to ramp up their contribution to the overall performance of the industry.