Belarus' PM wants higher efficiency, diversification from petrochemical complex

“The task of the updated strategy is to find ways to raise the efficiency of the petrochemical industry, to diversify supplies of raw materials and products, as well as to maximize import substitution, which will help reduce dependence on external factors. These factors prompt revision of the entire operation model of the Belneftekhim concern in the upcoming forecast period,” Roman Golovchenko said.

In his words not only the enterprises affiliated with the Belneftekhim concern should become more efficient, although they account for the bulk of the country's petrochemical products. “The 2019 strategy left out the potential of private science-intensive and low-capacity companies as well as producers of potash fertilizers who are able to pursue flexible manufacturing policies and produce innovative products. Today we should thoroughly discuss this area of work, listen to competent opinions in order to build a better understanding of how this document can address today's tasks. Is there an understanding of where the industry is heading amidst increasing requirements for product quality and the industry's efficiency in the context of the widespread use of polymers, the intensive transition to electric transport, the fierce competition and volatility of hydrocarbon prices?” the head of government asked.

The prime minister also suggested discussing what mechanisms and tools can be used to maintain a foothold on the market and secure the future of Belarusian producers.