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 In Belarus energy industry investors will be offered taxation preferences, First Vice Premier of Belarus Vladimir Semashko said at the IV international investment forum in Mogilev on October 9. In his words, the government has prepared two new energy industry bills meant to encourage investments into the industry. They grant taxation preferences for up to 7 years. Investors are expected to recoup their money within five years and use the remaining two years to develop their companies, said Vladimir Semashko.
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GOMEL OBLAST TAKES ONE OF LEADING POSITIONS IN NATIONAL ECONOMY OF BELARUS, SERGEI SIDORSKY SAYS
Gomel oblast takes one of leading positions in national economy of Belarus, Sergei Sidorsky says
Gomel oblast takes one of the leading positions in the national economy of Belarus, Sergei Sidorsky told reporters. The Prime Minister is in Gomel for the celebrations dedicated to the 70th anniversary of the founding of the oblast.
“The Gomel oblast is one of the most successful and highly developed industrial regions of the Republic of Belarus, Sergei Sidorsky said. – It possesses a big industrial potential and ranks first in the country in terms of industrial output.”
The Government of the country pays big attention to the development of the economic potential of the Gomel oblast. Last year alone, more than 70 new productions were set up there, 25 agro-towns were developed, Sergei Sidorsky said. The oblast repeatedly confirmed its leading position in the growth of capital investments. In 2007 the biggest investment projects in the Gomel oblast were the setting up of the seamless pipe production at Belarusian Steel Works, expanding the production at Mozyr Oil Refinery, launching the manufacture of new farm machines at Production Association Gomselmash. The oblast increased foreign trade by one third, with the surplus exceeding $2 billion.
The oblast will continue advancing in 2008, Sergei Sidorsky is confident. For example, Mozyr Oil Refinery will commission an alkylation plant to produce a high-octane eco-friendly petrol additive and will continue the construction of a petrol hydrodesulfurization plant to improve quality of petrol.
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© 2005-2008 Staff of the Council of Ministers of the Republic of Belarus
No part of this information may be reproduced in any form without reference
Information support from the Republican Unitary Enterprise Belarusian News Agency
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 On October 7, Deputy Prime Minister of Belarus Andrei Kobyakov and First Deputy Chairman of Government of the Russian Federation Igor Shuvalov met in the Brest oblast to discuss the issues of further development of the trade and economic relations between Belarus and Russia.
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 In the near future Belarus and Ukraine intend to set up joint ventures in the engineering industry, First Deputy Prime Minister of Belarus Vladimir Semashko told reporters after the 15th session of the Belarus-Ukraine Intergovernmental Commission for Trade and Economic Cooperation in Kiev on October 7.
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 Belarus and Russia should coordinate their efforts in the economic area in the conditions of the global financial crisis, Prime Minister of Belarus Sergei Sidorsky said as he met with Russian Premier Vladimir Putin in the run-up to the session of the Union State Council of Ministers.
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 In 2008, the trade between Belarus and Ukraine will exceed $5 billion, First Deputy Prime Minister of Belarus Vladimir Semashko said. The First Vice Premier is the head of the Belarusian delegation at the 15th session of the Intergovernmental Belarusian-Ukrainian Commission for Trade and Economic Cooperation which is being held in Kiev on October 6-7.
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 Belarus is ready to carry out big projects with the participation of the European Bank for Reconstruction and Development (EBRD), Belarusian Prime Minister Sergei Sidorsky noted during his meeting with Varel Freeman, the EBRD First Vice President.
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 Many major projects in Belarus are implemented with the participation of Austrian capital and technologies, Deputy Prime Minister of Belarus Andrei Kobyakov said as he met with Johann Zaks, Director General for Foreign Trade Issues of the Federal Ministry of Economics and Labour of Austria, co-chairman of the Belarusian-Austrian committee on trade and economic cooperation in Minsk on October 2.
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 Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.
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 On October 1, 2008, Belarus will down the crude oil export duty from $495.9 to $372.2 per tonne. The Council of Ministers issued relevant resolution No 1426 of September 27.
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 A multifunctional trade and logistics centre as well as administration and business and expo centres of the Republic of Belarus will open in Kazakhstan. Their opening was discussed at the fifth session of the Belarusian-Kazakh trade and economic cooperation commission in Astana. The Belarusian delegation was led by Deputy Prime Minister Ivan Bambiza, the Kazakh delegation — Emergencies Minister Vladimir Bozhko, the press service of the Foreign Ministry told BelTA.
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