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Belarus to continue attracting Chinese investors, Alexander Lukashenko says

Economic questions are at the center of Alexander Lukashenko’s attention: employment, price determination, salary issues. President Lukashenko emphasizes that the situation is difficult but it is not critical. A lot was done in the 25 years of independence, and global crises checked Belarusian economy on viability several times.

The main problem Belarus inherited from the Soviet times is the dependence on foreign markets.

Alexander Lukashenko, President of the Republic of Belarus:
It is enough for one of the important partners to trip over something and Belarus feels the consequences. Sanction relations brought many countries down. Those countries which used to buy Belarusian tractors, trucks, agricultural equipment, house appliances, furniture, clothes, and shoes and so on in reality could hardly make their ends meet. That’s why they couldn’t pay and buy Belarusian products. The principle of national protectionism, when everyone defends his own interests, is strengthening its positions.

It is economic nationalism in a way.

The simple task of export diversification becomes a difficult one under the conditions of current realias. Belarus’ access to the EU market is restricted. Belarus faces serious competitors in practically all regions. Quite often Belarus competes with experienced exporters as China and the USA.

Another way of conquering the market outlet is to get engaged into export of services. The potential of medicine, tourism, and the building sector is inexhaustible. Attracting foreign investment will only benefit Belarus’ economy.

Alexander Lukashenko:
The first thing that needs to be done is to change the approach towards investors.

It is not the investors who must walk around offices to invest money into Belarus; it is us who are obliged to provide green light for these investors in Belarus.

All the issues must be decided on swiftly! Friendly to Belarus China is getting into the position of the largest investor in the world. All the regions in Belarus have established twin-city relations with the Chinese provinces, they have agreed on the realization of a range of projects. Why isn’t anything seen in deed? There will be demand for this as well.

Nobody has cancelled the task for the governors to attract no less than 100 million dollars of Chinese investments to every region annually.

What is more, Belarus is provided with the credit line of the Chinese People’s Republic. Once again, having met one of the representatives of the Chinese People’s Republic, we touched upon this issue. They said to give provide them with projects and they will invest them.

Belarus to continue attracting Chinese investors, Alexander Lukashenko says