Belarus’ social and economic policy prioritizes people, support for families, children and the elderly. Since Belarus became independent, the government has formed a state for the people where a lot of efforts are invested in education, healthcare, infrastructure and national security. At the same time negative phenomena in the global economy become more pronounced. In view of the falling demand on traditional export markets, the sharp decrease in prices for oil and raw materials coupled with geopolitical turmoil, measures to ensure economic security and social stability, and restore balanced economic growth become vital for
Every year the number of elderly people increases, while that of the working population shrinks. The decline in the worker–to–retiree ratio was brought about by a higher life expectancy and a lower birthrate during previous decades.
In recent years the securities market, and above all the corporate bonds segment, has been growing pretty well in Belarus. This was facilitated by the government measures to encourage long–term investments and to improve financial literacy of people. What are the pros and cons of corporate bonds as compared to traditional bank deposits? What changes might be expected in the market in the near future?
Belarus and Turkey have set out to increase the mutual trade up to $1 billion. The two countries expect the bilateral trade, economic and investment cooperation to develop rapidly in 2016. The two economies are mutually complementary and are getting ready to launch several promising manufacturing cooperation projects at once.
What can Belarusian manufacturers do to secure their positions on the Turkish market? These and other question are answered by Selcuk ERDOGAN, Managing Partner in the Turkish law firm Ketenci, in an interview with the Economy of Belarus Magazine. The law firm is an official authorized partner and representative of the Istanbul Stock Exchange in Belarus, Russia, and Azerbaijan.
In February 2016 Belarus and Israel made important steps to give a boost to bilateral cooperation. The two countries signed a protocol amending and supplementing the Belarusian–Israeli intergovernmental framework agreement on financial cooperation of 21 June 2011. The new document significantly simplifies the procedures of attracting Israeli credit facilities to finance joint projects in Belarus.
The new arrangement is hailed by Belarusian and Israeli diplomats as a compelling evidence of growing trust between financial institutions of Belarus and Israel and mutual economic openness, which might spur cooperation in other areas.
It is no secret that traditional product promotion methods are becoming obsolete, less effective and more expensive, especially when it comes to entering foreign markets where advertising costs are crippling. It is for this reason that Belarus has
launched its own project. ByExport.com is a website the idea of which is new for the
CIS countries. Its main objective is online promotion of Belarusian goods abroad. The idea was in the air for quite some time. Belarus’ largest manufacturers supported and praised it as an effective and muchneeded tool of modern marketing.
Builders know that erecting a building is only half the battle. A building needs to be prepared for use, made resistant to environmental hazards and comfortable for living. Therefore, finishing materials play an important role in the construction industry. There is a wide range of such materials in the Belarusian market, with a bulk of them produced domestically. Belarus’ government policy aims to replace imports and reduce the prime cost of products made in the country.
Since late 2015 Minsk residents have been able to appreciate the high speeds of the 4G technology. The new network was built by SOOO Belarusian Cloud Technologies (beCloud trademark) in accordance with a decree of the Belarus president. At present LTE Advanced coverage relies on about 150 base stations that operate in the 1,800MHz range. The coverage is being expanded both in Minsk and in the oblast capitals. In H2 2016 the technology is expected to arrive in Brest, Vitebsk, Gomel, Grodno, and Mogilev. District capitals and populated localities with at least 50,000 residents will be able to get a taste of LTE Advanced by 2018.
The ICT development is one of Belarus’ national priorities. The country has set up a council for the development of the information society under the auspices of the president, adopted a national strategy for information society development, and a number of government and industry–specific programs. As a result, Belarus has become the CIS leader in the ICT Development Index. The Belarusian IT industry is considered one of the most rapidly developing in Central and Eastern Europe. The country is working on the state program for the development of the digital economy and information society up to 2020.
The modern concept of international marketing atttributes a special role to fairs and exhibitions. Many U.S. firms invest more than 20% of the sales promotion budget in the participation in such events. European companies spend even more. The leading exhibition organizer in Belarus is the Belinterexpo company run by the Belarusian Chamber of Commerce and Industry. The company organizes Belarusian exhibitions and fairs abroad and manages international events in Belarus. Economy of Belarus Magazine talks to director of the company Yevgeny Vvedensky about the proper preparation for a trade show, its special importance in times of crisis and benefits of arranging national pavilions.
Fish is a high–quality staple product. In the past the Belarusians practiced “fish” Thursdays. Today they give preference to meat which cannot be a full replacement of fish. Fish consumed in Belarus is mostly imported from other countries. Fish grown domestically, which is the most valuable and fresh, accounts for an average of about 10% of the market. This is despite the fact that Belarus ranks high in the world in terms of freshwater supply. The fishing industry development programs implemented over the past years have clearly had an impact.
It goes without saying that well–designed packaging makes a product more appealing to customers. It also protects goods from damage, increases shelf life, and helps keep store shelves and shopping bags clean.
Such packaging standards are commonplace in Europe and Belarus has been working to keep up with them.
LINPAC East is one of the companies offering modern packaging products. It is a young company set up in Orsha about 18 months ago. It manufactures moisture–absorbing expanded polystyrene packaging for meat, fish, poultry, vegetables and fruit.
The project was funded by the UK–based LINPAC that bought the unused premises of the PAK factory and transformed them into a modern manufacturing facility.
The Economy of Belarus Magazine talks to Andrei VOSPANOV, LINPAC East director, about the progress made so far, the competition, the role of end users in the disposal of polymer packaging and why it is inadvisable “to put a monkey on your co–worker’s back.”
Belarus is located at the same latitude as Scotland that does not grow grain crops whatsoever though it is close to the Atlantic Ocean and the warm waters of the Gulf Stream. Despite being located in the zone of risky agriculture, Belarus’ grain production per capita is higher than in the countries with a more favorable climate. The country’s agricultural leader is Minsk Oblast. What is the farmers’ secret of success? The Economy of Belarus Magazine addresses this and other questions to Igor MAKAR,
First Deputy Chairman of the Minsk Oblast Executive Committee.
In recent years Belarusian farmers have made considerable advances in agriculture. Farming standards have improved. Now they rely on innovations and a rational attitude to the existing resources. Belarus does not abound in fertile black soil, unlike Russia or Ukraine, and has to invest heavily in soil fertility. That makes sense, scientists say: farming standards are about, first and foremost, land management. All the more so that the Belarusian agricultural sector applies standards based on world–class technologies.
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