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Lukashenko urges new impetus and meaning to import substitution
MINSK, 21 April (BelTA) – We need to give a new impetus and meaning to import substitution effort, Belarus President Alexander Lukashenko said when delivering his State of the Nation Address on 21 April, BelTA has learned.
“Belarus has been engaged in import substitution for many years already. However we need to give it a new impetus and meaning today. The areas of application are many,” Alexander Lukashenko noted.
In his view, the main element of a dynamic import replacement is the increasing of the degree of localization at the joint ventures. “Having major assembly plants in Belarus, we still import component parts from abroad: chairs, finishing materials, automotive glass, and automotive components. We need to manufacture them here. This is the niche for our entrepreneurs and the area of work of the government,” the President said.
He recalled that the key performance parameter for the Government has been set. This is an increase worth no less than $600 million in the production of import-substituting goods annually. “The Governors have all the levers to support businesses engaged in the manufacturing: sale of unused property, leasing it out at affordable prices and others,” the head of state noted.
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