Business news

MINSK, 15 September (BelTA) – Enterprises located in the free economic zone (FEZ) Minsk will increase their export up to $1 billion in 2017, Prime Minister of Belarus Andrei Kobyakov told BelTA after visiting the free economic zone.

“Taking into account this figure, we can evaluate the success rate of the preferences granted to companies in the free economic zone,” noted Andrei Kobyakov.

As a successful FEZ Minsk resident company the prime minister mentioned the science-intensive and high-technology enterprise Adani. The company’s products are in demand in 70 countries, including the United States of America and China. “Many believed that it is impossible to compete with Chinese companies on their own market. This Belarusian company demonstrates that it is possible if a company never stops working to improve its product range, offers new products, and stays ahead of competition in R&D,” pointed out the prime minister.

There are plans to set up a research council as part of Adani Company. The company encourages R&D efforts of its personnel, including with financial bonuses. According to Andrei Kobyakov, the experience of this company in marrying research to manufacturing is worth discussing during the congress of Belarusian scientists, which will take place in Minsk by the end of the year. “It is the promising marriage of science and manufacturing we’ve always been talking about. Instead of spending money like water to increase the science content of the gross domestic product these people make money by channeling funds into R&D so that science could help manufacturing later on. This system provides for a strong competitive ability,” believes the head of government.

Adani Company and Alutech Group, which manufacturing facilities are located in the free economic zone Minsk, can be points of economic growth for Belarus, noted Andrei Kobyakov. The number of such companies is on the rise. “They are indeed flagships and examples to follow for other companies and those, who can start a business of their own. Programs to support small and medium businesses are now in progress in Belarus. Lending options are available, including for startups,” added the prime minister.

Adani Company offers x-ray inspection systems, x-ray diagnostics systems for medical purposes, spectrometers, and non-destructive testing systems.

Alutech Group manufactures profiled aluminum and roller doors. The holding company comprises five manufacturing enterprises and over 20 marketing enterprises. Three manufacturing enterprises are located in FEZ Minsk. Alutech products are sold in 65 countries.