Business news

The sides will be attracting FDI to set up a factory producing soft furniture in Belarus. The project is estimated at €20 million in investment. The furniture will be made by Belarusian workers to be trained by German specialists beforehand. Then it will be exported to Europe.

The agreement is a result of meetings and talks between Bellesbumprom and the German company. Polipol Holding representatives have visited Belarus several times to study the possibilities and conditions for founding a furniture factory. They have considered different proposals and sites to choose the location. The Ivatsevichdrev furniture manufacturer has been chosen as a top-priority location. This is where a new furniture cluster will be set up. The enterprise already has all the necessary premises, infrastructure, communications, and conditions for furniture making.

The Belarusian delegation at IMM Cologne includes top managers of Ivatsevichdrev, Pinskdrev holding company, Molodechnomebel, ZOV-LenEvromebel, Gomel Furniture Factory Progress and Minskproektmebel. The delegation led by the head of Bellesbumprom Concern is in Germany to explore the potential of the German furniture market and to hold negotiations over the organization of an exhibition of Belarusian furniture producers next year. The Belarusian delegation is also set to hold a series of meetings with German companies to discuss trade, economic, industrial and investment cooperation.

Polipol Holding GmbH is a major manufacturer of upholstered furniture in Europe. Today it employs over 5,000 professionals in Germany and abroad. The annual turnover exceeds €400 million. It manufactures upholstered furniture for homes, offices, conference halls, outdoors, etc.