PM pledges support to private manufactures in their import-substitution efforts

        Belarus’ Prime Minister Mikhail Myasnikovich considers it necessary to give all-round support and assistance to the companies of the private sector which produce import-substituting goods, BelTA reports. Mikhail Myasnikovich stated that the share of the private sector in industrial production has been growing. As of today private companies and the companies with the state share of less than 50% account for 56.4% of the value added in the processing industry. Thus the industry is moving towards diversification. According to the Prime Minister, the potential of industrial enterprises in the private sector is not yet fully utilized. They should be engaged more actively for the diversification of production at large industrial facilities. "If the large enterprises, for example, MAZ, MTZ and others have difficulty with sales in foreign markets, they need to diversify including with the help of the non-governmental sector, medium-sized enterprises, which have quite well defined market niches. For this they should be provided with all kind of support. This assistance should be focused to create new jobs in the industry. The main target is import substitution and export of highly-liquid high-quality products," said Mikhail Myasnikovich.