Opinions & Interviews

Lukashenko urges manufacturing industry to focus on efficiency, profitability

MINSK, 2 April (BelTA) - The vast majority of regions failed to reach gross regional product and productivity targets last year, Belarus President Alexander Lukashenko said at a government meeting to discuss regional development in Minsk on 2 April, BelTA has learned.

“The vast majority of regions failed to reach the gross regional product and labor productivity targets last year. Some regions did not fulfill the export growth and FDI targets and no region managed to reduce production and sale costs. Not all governors have ensured the framework for meeting the targets this year,”  Alexander Lukashenko noted.

“Today it is not so much the volume of production that is important but its efficiency and the final results, namely profits and profitability. However, a significant number of enterprises are still operating in the red,” the president stressed.

The head of state also criticized the lack of systemic work with investors and urged an individual approach. “How many of them have left because of our red tape, bureaucracy, a lack of determination to accomplish the task. All regions have signed agreements with Chinese provinces and cities. Many governor have repeatedly visited the country. Where are projects and investments?” Aleksandr Lukashenko said.

According to him, the work on the existing investment projects is often of poor quality: deadlines are not complied with, the returns are very low. “I have stressed that we do not need investment for the sake of investment. We need manufactures of tomorrow, new products and technology. We need every company to have its thing. We should generate new ideas, develop know-hows to make marketable products,” the president noted.

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