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Lukashenko comments on priorities of investment strategy in Belarus
MINSK, 4 November (BelTA) – We need to invest primarily in the areas where we have competencies, Belarusian President Aleksandr Lukashenko said as he approved the appointment of Ilya Ikan as Chairman of the Belarusian State Concern for Oil and Chemistry (Belneftekhim) on 4 November, BelTA has learned.
"We are often looking for where to invest. We need to invest in the areas where we have competencies," Aleksandr Lukashenko emphasized.
He cited the example of the Polotsk-Steklovolokno enterprise, which was previously headed by Ilya Ikan: "I am sure that you know better than anyone else what kind of fibers we need to produce in order to replace imports and to tap into foreign markets."
"If we process oil, we know how to move further, which products we should manufacture. I received a report on low-tonnage chemical production: we need to start manufacturing 40 new types of products by 2030. We should invest in what we are good at. We have a lot of such areas both in the civil and military sectors," the president noted.
As it was reported earlier, the head of state touched upon the issue of investment at the Dazhynki 2024 festival in Mosty on 2 November. Aleksandr Lukashenko pointed out that Grodno Oblast is the only region in Belarus that produces dry milk formulas for children.
"We are now trying to implement many, many projects as part of the One District, One Project program. We invest a lot of money and sometimes take on projects where we do not have competencies. We are learning the ropes in terms of many things. Sometimes we do not know whether we will be able to sell what we produce or not. Meanwhile milk formula, baby milk (I was in southern Africa, I traveled all over the world) sell well anywhere. There is nothing to feed children with in many places of the world. So why are we inventing the wheel? Let's build another plant and produce even better infant formula," the head of state suggested.
According to him, this applies to many areas, including wood processing. “There is a great demand for timber products internationally. This is what we dreamed of. I have always said that the time would come and it would be selling well,” Aleksandr Lukashenko said.
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