Minister: Capital investments on the rise in Belarus

"The government is pursuing a proactive investment policy to set up new facilities, to upgrade the manufacturing sector and build infrastructure. For objective reasons, external capital flows are limited today. Therefore, the task has been to tap into internal sources: first of all, enterprises' own funds, banks' resources, and the budget channel," the minister noted.

He stressed that this approach is already bearing fruit. "In the first half of the year, we managed to reverse the negative trend of the last three years when capital investments were declining. They are growing at an accelerated pace today," Aleksandr Chervyakov noted. “In the first half of the year, capital investments amounted to Br14.9 billion, or107.2%. Purchases of machinery and equipment are financed in a greater degree. In other words, enterprises mostly invest in fixed assets in use that generate added value.

Plans are in place to implement 812 investment projects in 2023. The volume of investments for 2023 is estimated at Br6.2 billion.

The center of attraction is the manufacturing industry. "We also invest in agriculture, forestry and fisheries, mining, construction and transport. In H1 2023, almost Br1.6 billion was disbursed for these purposes (102.4% of the plan for January-June 2023). A total of 29 production investment projects has been completed, of which three ahead of schedule," he stated.

"We are actively working to fulfill the One District - One Project program suggested by the head of state. The list of projects has expanded significantly. Today, these are about 156 projects that will create more than 9,000 new jobs in districts," the minister said.

Investment work continues in free economic zones.

From month to month, production and export volumes are growing, with supplies being diversified. In the first half of 2023, 15 new enterprises joined the ranks pf FEZ resident companies with a total investment of $129 million and plans to create more than 900 new jobs.