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THE ESSENTIAL
Energy industry investors promised taxation preferences in Belarus

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.

 

BELARUS’ NEW TECHNOLOGIES TO INCREASE AGRICULTURE OUTPUT BY 40 PER CENT BY 2010

Implementation of a state scientific and technical programme “Agrocomplex – Village Revival and Development” will increase the Belarusian agriculture output by 40 per cent by 2010 and decrease material and energy costs by 20-25 per cent.

The government-approved programme covers a period of five years. The programme is the scientific basis meant to ensure the development of agriculture potential and increase its effectiveness.

Scientific support of the agriculture priorities development as part of the programme will be rendered in six interrelated directions such as agriculture economy, farming and plant cultivation, animal breeding and veterinary medicine, forage production, agriculture mechanisation and power engineering, food production.

By restoring soil fertility, creating and using homemade sorts of imported plants, fertilisers and animal species, they plan to develop and introduce resource-saving and ecologically harmless technologies of agricultural production. Scientists and specialists are tasked with creating modern technological lines and equipment for processing and storing agricultural products, new kinds of competitive and functional foodstuffs.

The programme’s economic effect is estimated to result in annual production of 8.4 million tonnes of grain, 3.8 million tonnes of sugar beet, 9.0 million tonnes of potato, 6.5 million tonnes of milk, 1.4 million tonnes of meat. One invested rubble is supposed to bring 15 rubbles. Export is expected to near USD 20 million annually. The programme payback period makes 2-3 years.

The Agriculture and Foodstuffs Ministry is the state customer of the state scientific and technical programme “Agrocomplex – Village Revival and Development”. The programme will be executed by agricultural institutes of the National Science Academy.

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NEWS
Regions reveal Belarus-Russia cooperation potential

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.

 
Belarus, Ukraine to set up joint ventures in engineering industry

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.

Meeting of the Council of Ministers of the Union State

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.

 
Trade between Belarus and Ukraine to exceed $5bln in 2008

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.

 
Belarus is ready to carry out big projects with participation of European Bank for Reconstruction and Development

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.

Austrian capital participates in many key projects in Belarus

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.

Biofuel to be produced in all regions of Belarus

Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.

Belarus downs export oil duty October 1

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.

 
Belarusian business and expo centre to open in Kazakhstan

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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