BELARUS NEWS AND ANALYSIS

DATE:

14/11/2008

Interest of investors in Belarusian companies on the rise

Interest of foreign investors in privatisation processes in Belarus and in enterprises subject to privatisation has noticeably increased recently, Piotr Lukyanov, First Deputy Director of the State Property Fund of the State Property Committee, said during the XI Minsk forum "Neighbourhood and Security: Belarus Prospects in Europe" on November 14.

He noted investors show a special interest in major companies and manufacturing corporations such as BelavtoMAZ, BelOMO, Integral, Gomselmash and others. "It doesn't mean they will be subject to privatisation as soon as they are incorporated as joint-stock companies. Initially the state share in them will be preserved," said the official, reported Belta.

Piotr Lukyanov reminded, a proposal had been made by Oleg Deripaska's concern regarding BelavtoMAZ. "At the moment the issue of the sale of the company specifically to this investor is not so acute. Other variants are under consideration," remarked Piotr Lukyanov. "On the whole, privatisation in Belarus will be aimed at observing social conditions and guarantees for individuals".

The State Property Committee is now working hard to reform the state property. The work is especially successful for trade and consumer services enterprises. The private business share in this industry stands at 70%.

Privatisation processes have noticeably gained pace exactly in the last few years. It is the first time Belarus has adopted a three-year privatisation plan. The plan includes over 500 enterprises to be privatised in 2008-2010.

Efforts are also exercised to address the problem of transfer of vacant state facilities into business property. At present there are over 13,000 idle state facilities, with around 70% of them run by rural councils.

Source:

http://capital.trend.az/?show=news&newsid=1345875&catid=583&subcatid=540&lang=EN

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