Business news

17 Oct 2024

Two major economic forums opened in Mogilev

Anatoly Isachenko

MOGILEV, 17 October (BelTA) – The 15^th international economic forum Mill of Success and the second manufacturing cooperation forum on import substitution of the Shanghai Cooperation Organization member states opened in Mogilev, BelTA has learned.

Chairman of the Mogilev Oblast Executive Committee Anatoly Isachenko stressed: “People come to us, get familiar with our latest products, present their products, conduct B2B one-on-one negotiations and it produces a certain effect. We are ready to welcome businessmen. We present not only Mogilev Oblast but entire Belarus. Today we have signed a number of agreements on cooperation with Kaliningrad Oblast, on building a new enterprise in Klimovichi District as part of the efforts to develop the southeast. We are expanding the free economic zone Mogilev. Contracts will be signed between concrete enterprises. Contracts will be signed on deliveries of equipment, on buying the necessary parts and components.”

Taking part in the forums are representatives of government agencies, diplomats, and businessmen from 16 regions of Russia as well as from China, Tajikistan, India, Iran, and Pakistan. The broad audience indicates that interest in Mogilev Oblast’s economy grows higher every year. The oblast has managed to adapt to new conditions and get back onto a sustainable growth track. In 2023 the region reported the growth rate of the gross regional product as high as 101.6%. This year it demonstrates growth rates of 105.8%.

Today Mogilev Oblast will present new investment ideas at venues of the forum and is ready to provide assistance in full measure to those, who will implement the ideas. The promising cooperation avenues include the extraction of natural resources and minerals (phosphorite, peat, sapropel, fossil flour), woodworking, agribusiness, manufacturing sector, and tourism.

The region has all the necessary business support tools for an open dialogue such as the free economic zone Mogilev, the Mogilev Agency of Regional Development, the Mogilev branch of the Belarusian Chamber of Commerce and Industry. They enable favorable conditions and facilitate the promotion of ties between business circles and foreign partners and investors. The southeastern region, which includes seven districts and enjoys exceptional privileges according to a presidential decree, represents another unique advantage of the oblast.

The international economic forum and the manufacturing cooperation forum are designed to last for two days – 17 and 18 October. The programs include a plenary session, topical discussions, panel sessions, presentations of goods from export-oriented enterprises, B2B negotiations. The panel sessions are expected to discuss industry-specific problems, import substitution, support for exporters, new logistic ways and transport corridors, financial market tools, urgent tasks regarding the integration of the local private companies into the world economic space. Solemn ceremonies will be held to sign agreements and contracts.

An exhibition of export-oriented enterprises from the Shanghai Cooperation Organization member states is part of the program. About 1,500 participants are taking part in it, including representatives of large companies, small and medium businesses, and the executive branch of governments.