Opinions & Interviews

Opinion: Lack of coordination in EAEU manufacturing policy

MINSK, 27 February (BelTA) – The coordination of the manufacturing policy in the Eurasian Economic Union is poor, Chairman of the Council of the Republic Mikhail Myasnikovich said at a session of the Council of the Republic and the Academy of Public Administration under the aegis of the President of Belarus on 27 February. Top on the agenda of the session was regional social and economic policy, BelTA has learned.

“The Eurasian Economic Union has not utilized its potential to the full extent, though expectations were high. We have to admit the lack of coordination in the EAEU manufacturing policy, while the manufacturing sector is the driver of growth,” Mikhail Myasnikovich said.

He noted that the EAEU has very few joint stock companies and companies of other forms, though such companies are viewed in the entire world as a backbone of integration projects and innovative global economy. Thus, out of 6,300 joint companies operating in Belarus some 2,500 companies are owned by Russians. However, these are mostly small businesses that have no major impact on the manufacturing sector as such. Companies set up by business people from the other EAEU member states are even fewer, Mikhail Myasnikovich said.

“In this regard, all managers should strive to attract foreign direct investment, in particular, to small communities and satellite towns,” he said.

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