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Lukashenka: It is necessary to involve private business owners in process of modernization

 

It is necessary to create conditions in Belarus to implement proposals from private business owners and involve them in the process of the modernization of the economy, Alyaksandr Lukashenka said Friday while speaking at a government meeting on the results of the social and economic development of Belarus in 2012 and economic targets for 2013.

"We met with representatives of Belarusian private companies a few days ago," Mr. Lukashenka said. "They are ready to join this work. I put the responsibility for the creation of conditions to draw domestic capital into modernization processes on the [regional] governors and the heads of local governments."

Mr. Lukashenka stressed that he would not accept complaints about a shortage of funds for modernization. "Local authorities frequently use this excuse to hide the lack of cost-effective investment projects," he said. "Each company should have a modernization plan not just on paper and it should be supported by an efficient business plan. The government will provide assistance for such projects by both direct financing and subsidizing borrowing costs."

The Belarusian leader also pointed out that the resources of innovation funds should be used in the most efficient way for establishing new enterprises. "In 2013, these resources, which total more than three trillion rubels, should be focused on the implementation of the most important projects of ‘the economy of the future,’” he said. // BelaPAN