Belarusian People’s Congress

Belarus to complete modernization of its two oil refineries in 2021

An archive photo

MINSK, 11 February (BelTA) - In 2021, Belarus will complete the modernization of its two oil refineries (Mozyr refinery and Naftan), Belarus President Aleksandr Lukashenko said as he addressed the 6th Belarusian People's Congress in Minsk on 11 February, BelTA has learned.

"As for oil refining, we will completely finish the modernization of our two refineries this year," the head of state said

Belarus is also implementing advanced technologies in the space industry, military-industrial complex, biochemistry and electric transport. The production of passenger cars has been launched in the country. The share of Belarusian medicines on the domestic market has exceeded 50%. Now the task is to bring this share to 70-75%.

The president stressed that  the traditional industries will be preserved in Belarus. “We have not closed any company that we inherited from the Soviet Union. We are trying to support even loss-making enterprises because they employ people who can make good products. It is just that the equipment and technologies have  become outdated and need to be upgraded,” said Aleksandr Lukashenko.

Import substitution will be in focus of attention within the next five years. There are plans to launch the production of about 300 types of import-substituting goods. At least 10% of them will be brand new for Belarus. “There is no need to break anything. We need to develop what we have. WE can break it and built anew. But it costs a lot of money. Where will we get it? Let us develop what we have,” said the head of state.

The president also called the use of local raw materials (wood, flax, leather, peat) ‘a serious lever for economic security’. The new paper, cardboard, pellet, and furniture factories need to contribute at least 25% to the aggregate industry growth in the next five years and ensure the annual export of $4 billion by 2025.

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