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Lukashenka meets with Prime Minister Sidorski

Alyaksandr Lukashenka on Thursday received Prime Minister Syarhey Sidorski to discuss investment agreements signed recently with China and preparations for a Belarusian investment forum to be held in Frankfurt am Main, Germany, said the presidential press office.

Investment contracts worth $3.5 billion were inked during Mr. Lukashenka’s recent visit to China. The first Chinese funds to finance some of the projects are expected to be provided in December, BelaPAN said.

Mr. Lukashenka told Mr. Sidorski that the Council of Ministers should accelerate work on business plans required for the implementation of projects that envisage investments totaling $15 billion.

He said that the cabinet also should come up with proposals for Chinese investment totaling $10 billion that could be granted under China’s $15-billion credit line for the modernization of the country’s oil refinery industry. Belarus' two oil refineries should increase their yield of light products to 92 percent, Mr. Lukashenka said.

While speaking about the investment forum to be held in Germany, Mr. Sidorski said that ministries and local executive authorities were set to propose a number of projects ranging from the construction of hotels and road renovation to the modernization of companies.

The premier also briefed the Belarusian leader on the country’s economic performance in the first nine months of this year. GDP increased by 6.6 percent and industrial output by more than 10 percent year-on-year, Mr. Sidorski said, noting that the growth of exports surpassed the growth of imports by three percent. Besides, housing totaling more than five million square meters commenced in the period, he said.