Opinions & Interviews
Belarus president promises goal-oriented investment to mechanical engineering companies
MINSK, 7 April (BelTA) – Investments for the development of Belarusian mechanical engineering companies will be provided only if concrete target markets are available. Belarus President Alexander Lukashenko made the statement as he visited OAO Minsk Automobile Plant (MAZ trademark), the managing company of the holding company BelavtoMAZ, on 7 April, BelTA has learned.
The head of state was informed about the company’s financial performance and development prospects. The President noted that when he visited MAZ, suggestions were made in favor of holding a government conference to discuss the strategy for developing the Belarusian mechanical engineering industry as a whole. The distribution of credit resources granted by China to Belarus was supposed to be discussed during the government conference among other things.
Alexander Lukashenko explained that such a conference will take place later and in a different format. He made it clear that enterprises will be able to get financial resources, particularly borrowed ones, only if they carefully calculate the potential target markets for selling new products. “You will get money, possibly Chinese loans, only when you prove that you have the markets to sell your products to. Otherwise, we will not give you a single cent,” said Alexander Lukashenko. “I cannot once again invest hundreds of millions of U.S. dollars in your promises of making some products and stocking them in warehouses or, worse, just eating away the money.”
“This is why you must clearly understand that if you take money and promise some product, you will have to prove that you will be able to sell that product,” added the Belarusian leader.
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