the movement of training armament equipment as for a whole real special forces detachment, the youngest parachute for sure. i am the youngest skydiver in the world. i jumped from a distance of 2.500 m. i jumped at 5 years old. at first i immediately jumped off the excitement so i was surprised. well, then flew already blissed out cool. there are many professions for women in the military structure, our brother went to serve. well, i liked the service in the thirty-eighth brigade, then i remained on the contract. we were inspired by his examples went too. let's enter the military academy club prowess in the military-patriotic cause for two seasons for classes in special physical training for hand-to-hand combat. shooting guys come from strashitsky gorodok smolevichi. borovlyan logoyskaya , each of them today had the opportunity to examine in detail the works of belarusian authors from national materials, find motifs

of slutsk belts in the hall of solemn ceremonies , find out how the normandy four marathon was held and, of course, take a photo in the hall of state awards. the guys who came to us today from the second borovlyansk school and strashitka gorodok school. once. just went to them in the first chapter. wow, but not only to them. i also had the same impression, such indescribable beauty, the greatness of the chandeliers, these are generally chic all around. yes, as the ornaments were told, very beautiful belarusian ones, we took a lot of photos, very beautiful. the coat of arms of our country, we took a picture with the girls. in this hall here, our president always congratulates people who have achieved high merit in various industries to conduct a palace educational program for young patriots until the end of the academic year. season, the instructions of the head of state, despite the busy schedule of workshops and business

visits. the palace is available today for everyone and one more event. on the eve of the international children's day, the belarusian union of women, for the first time, held an evening of family reading. the theatrical batkovsky gift, the reading of the works of the classics of belarusian literature took place in the kupala theater in the role of readers, along with the families of the theater actors , statesmen also acted. as the organizers of the event space, family reading, are able to unite senior and junior, and influence the formation. the oily rich spiritual world of children gathered a family from different parts of our country in order to once again emphasize the importance and significance of the book , the importance of family reading in our country. let the children see that the book is for us, how much we love it, and that we read it, really all the culture of our belarusian people, let them be brought up on this. this is important for us. this is

a relationship between parents and children. this is an opportunity to shape. this is such a spiritual the world of a child and a book read in childhood in youth. she leaves a mark this year. we have such a unique project, its origins in 2022, when father's day was established and we published such a book, the bochkovsky gift from the stage of the kupala theater, excerpts from the works of the classics sounded. yanka kupala and kuba akulas all the guests did not come with bushy hands and handed them over to the library. according to the project , books dear to the heart of the family who came to minsk for literary reading received a book as a gift, the batkovsky gift is planned, that such events will be held throughout belarus and finally we will tell about the big sports premiere on belarus 1 and belarus 5, 11 separate news are preparing to air a project about the games, which is dedicated to preparing

for the second games of the country, the cis they will be held in 11 cities of belarus from 4 to 14 august. guys, this is about sports, in general , there will be something, of course, about culture and traditions , and certainly about people. starting this saturday every week we will show you not only all sports facilities and sports, but also the culture of the regions, local customs

and traditions about the games will reveal all the nuances of preparing for the second games of the cis countries and introduce you to the lynx mascot. in each episode there will be a challenge for viewers. and what will famous bloggers, singers , athletes and representatives of the most active and athletic world of art tell? waiting for gifts? these are the main events of the day. i say goodbye to the broadcast will continue the talk show economic environment the main topic today is investment policy. stay with us it will be very interesting.

good evening on the air economic environment on belarus one of the satellite tv channels belarus 24 today, we will discuss the investment policy of our country.

what are its priorities, tools and implementation mechanisms, how effectively are the investment parameters of state programs being implemented at the present stage and whether adjustments are required under the conditions of sanctions restrictions, how comfortable are the conditions for investors in belarus and which industries are most attractive for investments, is there a sufficient source of financing for capital investments and what is the the role of the banking sector in the selection of investment projects, as investments affect economic growth. and what about regional development? high technologies of import substitution personnel training and economic security, can investments effectively create new points of economic growth in belarus let's figure it out. today

we have studio experts who are well versed in the implementation of state investment policy. maxim yermolovich deputy head of the presidential administration of belarus alexander yegorov chairman of the board of the development bank of the republic of belarus ruslan strakhov deputy chairman of the mogilev regional executive committee, dear guests. good evening. good evening our topic today is not simple and capacious enough, so i propose to start with dreams. here economic science argues that effective investment stimulates economic growth, and vice versa, well, just remember the works. john case and the multiplier effect formulated by him. or, for example, the work of the nobel laureate welshman is also a film-sian and the principle of the accelerator justified by him. here let's explain it to our viewers in plain

language. how do investments affect the socio-economic development of the country, uh, a lot of uh, the works of economists, are devoted to the topic of investment policy, and the impact of investment on economic growth, it is clear that any uh, capital investment leads to uh, growth uh, added value in the economy and accordingly create some additional economic advantage for society, but more and more often today the thesis sounds, uh, transformative investments are investments, which affect not only economic growth in itself, but also create additional social favorable, social consequences of such investments, and this is the most important factor that should be addressed.

when implementing investment projects, all e, stimulating e, economic growth and stimulating investment initiatives of the state are always evaluated from the point of view of their social consequences, therefore, if we talk about the effects for people, it is important to understand that the creation of production increases labor productivity through the implementation of investment projects creates the prerequisites for improving all social indicators both regionally and in the country as a whole. that is, the higher the investment activity, yes, the better for the socio-economic development of the country ruslan borisovich, of course, investments - this is true. e. the part that, e, moves the entire economy, starts with the construction complex and industrial enterprises, which, while modernizing, improve the quality

of products, promote their products and end with our citizens, who on the one hand, they receive high wages at enterprises; on the other hand , they receive additional benefits during the construction of social facilities. if we return, in general , the theoretical foundations. yes, then, in principle, the country's gdp. yes, it is the sum of the three that make up this total factor productivity. how effective is the calculation yes according to the douglas formula, the second is capitals, the third is labor. this is human capital, and here, if we are talking about capital, then the growth of capital is directly explained by investments, the more investments, the more. capital, but here in fact there are several effects. uh, directly just increasing capital through investment, the second is an increase in the total factor efficiency of productivity through new investment. yes, it's one thing when it costs, let's say 150 machines, another thing costs four, machining centers and they are served by five people, respectively, we can direct the released labor force to other areas of the economy. well, the third effect

is when an investment is made. it's in including the wages of people who build, who assemble, and then this wage spreads throughout the economy in the form of consumption, which, in principle, is actually from the point of view. uh, the use of gdp consumption is the main driver. yes , the way we go to shops, the way we use financial services and household services. this, among other things, also determines economic growth, so the so-called multiplier arises here. yes, that is, when not only we accumulate capital, well, in general, we will increase the country. but and if we talk directly about the investment policy of belarus, this is what its essence is. what are its priorities, tools and mechanisms for implementation in the program of socio-economic development , the priorities of the country's investment policy are determined , everyone can get acquainted with them. this program is approved by all the belarusian people's assembly priorities of the investment policy.

they are implemented quite consistently in each such program. the president pays a lot of attention to the development of our economy. first of all, uh, increasing the volume of investments. that is, to paraphrase, these two key priorities are. uh, high-tech manufacturing. yes, their development, and the second is regional development, that is, formation. e infrastructure in the regions, and so on and so forth, in order to create the preconditions for the further development of these territories and the alignment of the sectoral regional, well, the backlog, which is present in any case in almost all countries of the world. a ruslan borisovich and implementation tools. here's what can be attributed to them. as for the implementation tools, but first of all, i would like to note that the president's order,

on which we are all working now, is one region, one so-called project in each region. we must create one investment project each. it should be noted that now we have a number of tools for this. first of all, this is a product created by the development bank, just for the implementation of this order and for import-substituting projects, preferential credit resources. just aimed at these goals. moreover, it is important to note that in this context, e is not the only enterprise in the region. can use preferential loan product. this list is not limited and on the proposal of the regional executive committee. it can be supplemented by new projects. in addition, within the framework of integration e-projects from the credit resources of the russian federation, we can implement integration projects , the so-called instructions e, orders of the prime minister 210, and here we can also use this tool, in addition in addition to the program, a support for small and medium-sized businesses is a tool that

allows regional executive committees to compensate up to 50% of the refinancing rate for small and medium-sized businesses for the implementation of investment projects. well, in terms of the regional development of the mogilev region, it also has an additional unique tool within the framework of the presidential decree. we have the opportunity to compensate the investor during the implementation of investment projects up to 35% of capital costs during the implementation of the project, and we also take full responsibility construction of the entire engineering infrastructure in the southeast for the implementation of the project. that's all in the coupe data. yeah, it allows us to really shape, and the floor of investment projects, alexander andreevich , is yours, with regard to the tools and mechanisms of our investment policy. here is your vision. here ruslan borisovich has already noted some. including credit financing initiative, which was initiated by the head of state. this is one district, and one project is the import substitution initiative. it certainly is an essential tool, because the goal of these

projects is not just to implement correctly. yes, we had a project in every district. well, there are two goals. in fact. the first is the number of jobs to be created, the second is not just jobs , but highly efficient jobs that will make it possible to raise the wages of each region to the national average. and here there are tools to support the development bank - this is a loan, and there is also a separate loan program. e, which supported by the government to finance smes the rate is there six seven five seven and a half percent. that is, even refinancing rates refinancing rates yes and the third direction. here ruslan borisovich spoke about him in part - this is a transfer. this is what is present for the south-eastern region of the mogilev region, but, in principle, the same policy is applied in agriculture for the construction of farms for the most important investment projects in the agro-industrial complex. there too there is a transfer. that is, you invest money for you, uh,

a loan and offspring are allocated on comfortable terms as you enter the object. yes, there are two conditions. first. you must enter the objects receiving the transport. and then you have to go to the production facilities that you have identified as a businessman. you receive the second part, total up to 25% of all your investment costs. you are reimbursed by the state absolutely . now the government is developing a document that will spread the action. here such an approach of such a mechanism of transfers, not only to some individual regions or to individual industries, but to the economy as a whole from the size of transport. it will be determined by. uh, how important are investments for this or that region, if we call this region lagging behind, yes, where the average salary is lower than the average for the economy, then , of course, in order to implement investment projects there, more incentives and transfers are needed. he will be bigger. and if we are talking about developed regions, then of course the size of the transport will be lower, but it still needs to be present, because now we are at a stage where we cannot

afford not to invest money. first of all, this is a question of the country's technological independence. well, serious tools. uh, i would like to talk more about the assessments of the investment policy that is being implemented in the country. but before we do that. uh, we need to remind our viewers of the position of the head of state. we remember during the appeal to the belarusian people and the national assembly. and our president set the task this year to overcome the so-called investment trend of past years, let's listen. you have to invest seriously. in production, we have not yet sank very much with this. for capital investments, up to 19%. although they completed the implementation of more than 150 innovative projects this year. we simply have to reverse the investment trend of recent years , the topic is also relevant, stimulating conditions for

investors, it is necessary to involve them in a project where the production of the products we need is created or it is an indispensable link national production chains need a package of additional guarantees for responsible investors, for example, the purchase of products by states, the reimbursement of part of capital investments, the creation of ready- made production sites, the infrastructure rules for the investor, simple those who want to create production new jobs. decent wages, not rednecks social package for employees to introduce innovations and promote the expansion of competencies

development of engineering and transport infrastructure, volumes of road construction , water housing, improvement of settlements , a guarantee of comfortable living in the regions. maxim leonidovich, we heard the head of state noted the backlog in terms of capital investments by 19%. but after all, a similar situation develops with other parameters that characterize investment activity, for example, uh, share, uh, investment in fixed assets. uh, at the end of the twenty-second year. it amounted to 14.5%, which is about 10.5% points less below the threshold of economic security. and here's the most worrying trend - it's negative here. e, if there in the nineteenth year the value of this indicator exceeded 21%, now, as we have already noted, 14.5. how

do you rate? eh, our investment policy at the present stage and what factors have a negative impact on the course of its implementation? this year we must enter a new investment cycle this year. we are obliged to ensure, in accordance with the requirements of the head of state, an increase in the volume of capital investments, an increase in investments more than than by 22% compared to last year, in order to overcome this negative trend , falling into a negative value in terms of investment, if in money it is 46 billion rubles. the amount of investments for the current year is very huge, but this amount allows us to take the first step towards restoring the volume of investments, the conditions for increasing

these, the volumes created, the reasons why there was a fall in investments, too, for everyone. it's clear. uh, foreign credit financing is foreign lines of credit. uh project support from foreign participants fell by more than 60% last year compared to 2021, this fact cannot be ignored, but this does not mean that we should give up and we should come to terms with this level of investment. this is the vicious way. we must look for alternative sources of investment, especially since the institutional environment for increasing these investments has been created alexander andreevich tell me a. which investment financing instruments are most often used in belarus and which of them are the most effective and affordable

for investors? well, in principle, the structure of investments by sources of financing is classical. yes first of all, these are the actual resources of the enterprise, and the sources of their own resources. well, there are two of them. the first is the depreciation that the enterprise accrues; the second is the profit that the enterprise receives and those internal internal production, internal production yes, sources and many enterprises, in fact. why, including e and a certain decline in investment. uh, this is a consequence of the fact that many enterprises used the option not to charge depreciation. yes, they have washed out the funds that they could direct to investments. they were simply faced with the absence of these sources. it's dangerous from a point of view. here are the investment challenges of the trends they charge depreciation correctly. and this is absolutely dangerous. this is a trend. this is a way to disguise some kind of inefficiency, and in fact. uh, now uh, the government, including uh, evaluates the activity of the enterprise immediately without taking into account depreciation. that means you won't be able to play with numbers and say that i'm doing

a good job, but in fact , depreciation is simply not charged, and the second important source is credit resources. this is the money that the banks provided, the funds that are provided by the development bank a-a, the third source, it is similar to banking, but nevertheless a little different, in fact, this is leasing. yes, this is a financial lease, which also allows you to significantly upgrade your fixed assets. well, first of all, the most popular tools use it. this is leasing. uh, various agricultural equipment , road equipment, and annually more than 500 million belarusian rubles, for example, within the framework of decree 146. e, used by the enterprise. and another source is the funds of the population, because one of the types of investment is housing construction . both the population's own resources and the resources of the enterprise itself are an important source. well , there is also a source that is popular all over the world, but we do not need it, in fact, raising equity capital. yes

when a is a private business, a can attract free resources by sharing a stake in his organization. well, we have not developed this tool. and in fact , this is one of the possible channels for expanding investments, and at the expense of a good free source in a situation where there is a drawdown in the equity of enterprises. difficulties in attracting foreign funding , including foreign direct investment , the state should become the main investor and, uh, this task is now being solved in different directions. firstly, by increasing the volume of state investment programs for investments in infrastructure, which is very important in housing construction. this is also important, but a multiplier or accelerator for increasing overall investment, but there are also, uh, special

tools, special institutions that we talked about here, such as the development bank , which offers, uh, the replacement of traditional foreign credit resources with domestic ones. this is also very important, that is, the emphasis is shifting to internal sources. i have in mind inside national sources. and here is the development of this topic. ruslan borisovich has already been noted here by the order of the head. the impact is to create one or two high-tech production facilities in each district, which, in fact, have been transformed into such a program, one district, one project. please tell us how this program is being implemented in the mogilev region. uh, what are the effects? how much investment has been attracted? how many new jobs have been created and well, probably the most important thing is from your point of view. uh, this initiative will allow us launch a new investment cycle in

the regions. ah. the most important thing is that following the initiative, we actually now have a whole range of additional tools that we can use, which we have already talked about today, and now, together, these tools that we talked about and allow. we are now more actively filling our investment program with regard to instructions. yes, they formed it. the list of such investment projects is one region one project only these projects. we will be allowed create about 1,300 new jobs and e in mogilev in the mogilev region, the volume of investments only for them e, for the entire period of their projects will be more than one billion rubles, perhaps these are not all projects. not in every region. these will be big projects. we clearly understand this, from the outside it may seem. uh, like, mm , some kind of underperformance, but at the same time , the specifics of the region must be taken into account. it is necessary to take into account

the labor potential of the region, it is necessary to take into account climatic natural resources. and that's it. this we take into account e with e, the implementation of certain projects in the regions, in order to launch a new investment cycle, we have compiled a list of eighty-six commercial investment projects in the mogilev region, which will allow us to attract investments 2,9. a billion rubles and only this year for these projects. we expect about 416 million rubles. fixed investment thus seeing. uh, here 's the general toolkit. we certainly fill our investment basket. that is, you are full of optimism that such initiatives, uh, will launch new investment cycle. we are for it now. uh, we're working hard with the investor. in fact. here i, if possible, will add ruslan borisovich a very good example. uh, i had a trip to the mogilev region.

i visited the elizava glass factory, which was not included in the one region one project initiative. well, we looked at the production, evaluated the business plan, the implementation of which, in principle, is possible. and during 2023, at the end of the year, it will be possible to produce new products. e, respectively, e, in. the body kit happened to a speech with the governor and within a month. this the project is already on the list. and we are ready to start financing everything. that is, this is just the same example of when the local authorities. looks at those projects that are interesting, if new projects appear, they are promptly added dear experts. here we are all following the information agenda and we know that last week it was such a significant event for the economic community. i mean the belarusian investment forum, yes, which took place in bobruisk, which attracts the attention of such assessments by an experienced economist, firstly, if earlier such events were held mainly abroad. yes, in international financial centers. it was

istanbul it was dubai it was london frankfurt am main and a number of others then this year. this is already, firstly, inside yes, in belarus and secondly, not in the capital, but in a regional city. and this is very symbolic from my point of view. e, maxim leonidovich, we know that you spoke at the opening of this event, and now i will quote that at the opening of the belarusian investment forum in bobruisk you said we quote you from the belt of creating the most favorable regime for attracting investments - this is the main task for the country. tell me, please, how do you assess the investment climate in belarus as a whole and the package of investment incentives and guarantees that investors have. and so the head of state said that we need new

guarantees, new incentives. and what preferences? what additional guarantees can be discussed? we see what a difficult geopolitical situation in the world today difficult and, uh, the willingness of investors, especially private ones to invest in new production in greenfield, they are very low, this does not apply. in our region, this, in principle , concerns the current state of affairs . investments are falling. unfortunately all over the world. it reduces economic growth, uh, globally and in this regard. uh, we are obligated to pay attention to the effectiveness of public investment, which i constantly say the state should become the main investor today. we must pay attention to the national investor. these are two important categories in order to continue

to dynamically develop our national investment program, as for working with private investors, here, uh, a great resource in order to get additional effects. we have created a large number of special regimes aimed at attracting investment in various areas of the territory. yes, there is a high-tech park. there is an industrial park, great stone. yes , they differ from each other in terms of benefits and preferences that are provided by this park. i counted more than six different modes of investment preferential regimes. uh in our country, which, uh, is very different.

from each other, perhaps we need to look at these regimes and carry out some kind of unification of these regimes to make some kind of common one. from the point of view of tax preferences, from the point of view of some kind of budget support. uh, the general mechanism alexander andreevich, we know that your team regularly reviews both business plans and investment projects. uh, please tell me which direction the industry scope. here are the most interesting investors. what recommendations would you give to entrepreneurs who seek to receive financing from the development bank of the republic of belarus, which you head, if we talk about industries. yes, what industries, uh, involved, well, first of all, but industries related to mechanical engineering. yes, but not just a car mood somehow. here, yes, and the whole train that he creates is various parts, assemblies, assemblies. yes, here is the first direction, which is the second - this is the food industry

, historical local raw materials. so which we can process and a large number of projects are related to this activity, the third is the artik formation. there are domestic investors and there are foreign investors with whom we work, who are also ready to invest in the economy , invest and increase production. uh, the third direction and the fourth direction you know that. well, it's hard to single it out somehow, but here it is, import-substituting products. yes, this is due to the departure, first of all, of a large number of foreign companies from the russian market, new niches are opening up, and, well, primarily private business. small medium business. he knows how to quickly get some equipment up and running. well, a vivid example, let's say. this is the use of pulp for 202 , the use of pulp in the domestic market. it has multiplied. e. well, that's paper. this is a personal care product. these are various other products. that is, we have learned not just to sell. yes, but already

to make a finished product, which, among other things , we supply both in russia and other markets. if we talk about business plans that we consider, and they are different, there are all business plans, which, in principle, can be considered there within a month and quickly agree on the issuance of loans. why because the investor is interested in the fastest development of money, respectively, before going to the bank. he has already drawn his own conclusion. uh , how much he wants to earn on this, respectively, he did all the marketing research. he knows where he will be importing equipment from, he understands, and what are the markets? what are the risks, and there are projects when hmm often there is no complete understanding. what equipment will be wound up there is a purpose? yes, here we want to produce something, but it is the sky, this goal is unreasonable. yes, that is, uh, who are you going to buy these products, how competitive are these products. is it possible to produce it at all and that's one of the main mistakes that we encounter

and then this is confirmed by the facts. this is when , when calculating his business plan, the investor looks at both the cost and the products manufactured the most. optimistically, that is, he takes, there for the last 5 years he takes the lowest the price of a-a materials and raw materials takes the highest price at which his products are sold and puts this into a business plan. he says that he pays for me. give me money, but in reality, uh, a group of development bank experts. this approach is unacceptable, we take the usual historical data for the last 5-7 years, look at the average value and do the so-called stress test. and only if, as part of the stress test, we see a positive financial cash flow , the investor will be able to return the money, and most importantly, he provides with his own money, including closing interest closing net working capital. only in this case we approve such loans. and in principle, if we talk about the one district one project initiative, we are not just acting as a lending bank. we actually carry out the examination of all these projects. that is, a number

of projects will go through the development bank, a number of projects will go through partner banks, to which we will provide resources, but the condition for issuing a loan is a positive expert opinion of the development bank. as for recommendations so that you would advise potential borrowers, well, a recommendation, they, in principle, follow from the mistakes that exist. the first thing is to be conservative in your assessments. the second is to approach borrowed money as if it were your own money. well, when you invest your money, you read it 10 times, will you return it for some reason to bank money for something else. here , probably. well, it must be explained that the bank as such does not have its own money. yes, the bank has liabilities that it has attracted, including loans. where did she invest you liabilities. if someone is not returns the loan to us, which means, uh, well, the bank cannot but have the opportunity to return to someone who lent him this money, which means that the second direction is to evaluate and the third important direction. it's still

marketing research. no, this is something that we often do not do, but this is a very important element. ruslan borisovich let's get back to the regional level. tell me how successful. so far, in the mogilev region , an investment program was implemented in the twenty-second year. have you managed to fulfill your plans and what are the trends fixed on investments, here in the region, they are positive negative. well, here, first of all, it is necessary to divide the investment direction into two clear ones , with regard to social obligations, that is, mogilev was the executive committee here, and social obligations implement investment programs of the mogilev region through the implementation of the state investment program. so here, as maxim leonidovich has already outlined, last year we have grown significantly, just like the country as a whole, it is precisely this source. uh, it's investment growth. last year. we used about 400 million

rubles. investments in these areas of social infrastructure projects. in what areas, first of all, we continue, as already colet has significantly updated our material base of medical institutions in a row . a very active direction, and last year was no exception, we introduced, in fact, a new infectious corps. e, the largest city hall in the mogilev region constructed a polyclinic in mogilev, reconstructed in slavgorod both a hospital and a polyclinic and a number of other smaller areas, and this area we will continue to deal with this year is the renewal of our material base of medical institutions. right now, right in mogilev , a major project is being implemented on the basis of the mogilev city emergency hospital. in fact, we are already actively building a medical building for emergency surgery from scratch, cardio -cerebrovascular pathology is a very important area for the residents of mogilev and the mogilev region. we will also reconstruct a number of polyclinics in this

year. the first direction is the second direction of the road. the same topic is on everyone's lips in this direction. we have been active in the past year. we will significantly intensify this direction this year from large facilities . last year we completed our ring road, which in fact has now become the second direction ring road right in the city of mogilev in three stages. we are building an understudy road, which will also untie the infrastructure. we have already put into operation first of all this year. we are introducing the second stage and in the twenty-fourth year we we will completely complete the understudy road in the city of mogilev in total, and the volume of investments in the mogilev region is 2 billion 196 million rubles. and in terms of commercial projects. we certainly felt some decline in investment activity. and this was the result of those unprecedented sanctions moments that were applied. we felt like the whole country as a whole. well, here's what needs to be emphasized. this is what

the state, as an investor , fulfills its plans and overflows so that it is clear to ours. tv viewers usually public expenditures of such social significance, they are fixed at the level of regions in state programs. yes, one industry or another. ah, in addition to the regional level , our country annually approves a state program aimed at financing the construction and reconstruction of socially significant infrastructure. here is how the program of the current year is being implemented and how much the country is investing in infrastructure projects of social importance. answers in our next story. let's see the state the investment program is an investment in the development of our country to create coziness and comfort not only for us, but also for future generations, and does not save investments on this. in our tomorrows, everything is weighty for state investment, the 2023 program

has been allocated about one and a half times more than a year earlier, namely, over billions of belarusian rubles this year with an emphasis on anti-social programs and with an emphasis on completing construction. objects launched in previous years in the past, for example, i will say that most of the financial injections were concentrated on projects in the industrial sector, three- quarters of the entire investment wallet was allocated for state programs from this money. and this is about 900 million building and repairing roads, housing , ensuring law and order and security at the border, for example, in vitebsk, the pharmaceutical industry is actively developing. they are working on the production of a vaccine against covid and other diseases . want to be in time by september, by the day of the city , the vitebsk regional infection center and the brest regional hospital are expanding. start reconstruction, republican pc for pediatric oncology about 40 million rubles. allocated for the development of the city of nuclear scientists at

the end of the year, a renovated polyclinic will receive visitors, then the construction of a school for road construction in the republic of vydeli will begin almost 260 million rubles. for example, in mogilev, they improve logistics and the environment through the construction of the ring road, the investment program also includes a road to an understudy modern multifunctional facilities for classes sports. this year, fanipoli and dzerzhinsky will appear everywhere, by the way, of these three objects , the most expensive is in dzerzhinsk , about 22.5 million rubles have been allocated for it. the ice palace in the city center announces the long-suffering facility in svetlogorsk began to be built 8 years ago, but work for various reasons stopped . more than fifty objects are planned to be put into operation within a year. first of all,

in the regions. this is another step towards the implementation of the concept of strong regions, but we see, uh, state programming. action e maxim leonidovich tell a. what investment challenges and threats are being formed for the belarusian economy and what are they fraught with and naturally? what measures? what new tools are needed to level them , taking into account modern realities in terms of investment a and the growth of technological the picture of independence here is completely understandable, because of sanctions restrictions, we are faced with problems in the implementation of investment projects that were focused on western equipment. today we need to look for alternative types of equipment. uh, buying technology in asia in

china, looking for some alternative suppliers is a problem. and this problem today is effectively solved by the second direction - these are financial sources. we are facing significant financial constraints because the modernization of enterprises, as honestly such state-owned ones, took place at the expense of credit resources. uh, hardware vendors. this is standard investment finance practice in this situation. the volume of these resources, uh, has fallen significantly and will continue to fall. this is obvious, so we must replace the resources that we received from outside with our internal sources to work with our partners to increase credit resources, maybe the russian federation, maybe china and from

the point of view of our current level interaction between these two directions is developing quite qualitatively, since we are talking about sources of investment financing. i think that this question needs to be redirected, so to speak, according to competence. e alexander andreevich here are the reserves for the development of the system of financing investments in the economy of belarus that you see in the banking sector in general and development banks in particular. if we talk about reserves, then the first of the reserve itself is not borrowed funds. yes, it is capital that can be raised. uh, stock capital that can be attracted is clear that for state-owned enterprises this is a less urgent task. yes, since we do not now consider privatization as a source of attracting resources, but for private businesses, sale, and shares in their

companies in order to attract free capital is an important area that they need to develop, it is clear that many of them, uh, initially were established as small family businesses. they have grown, and the owner still stands alone, but without such sources. will develop further hard, but from the point of view of borrowed capital in the country as a whole, there are two important directions. the first is project financing. when we have a greenfield project, yes, in fact? uh, there is nothing, you have to create it from scratch and uh, for this there are a number of things that need to be considered, where to get a deposit. how to secure funding? how to get it right? repayment of funds is the first direction; the second direction is syndicated lending, when the project is so large that each of the banks individually is not ready to take this risk or legislation, cannot even take on such a risk, but if a group of banks is ready to take on such a risk, then in this case such a project can be implemented.

to do this, it is necessary to develop identified lending, as for, uh, a development bank , we, well, first of all, act in the format or the government to give all the tasks that exist, but nevertheless, we are trying to find some new niches. uh, first - this is a product for small and medium-sized businesses that we have for regions that are lagging behind. the lowest rate that is possible, the second according to the results of the investment forum. in bobruisk, we heard that there is a need for separate funding for small medium-sized businesses that participate in cooperative e- supply chains for large state-owned enterprises. and now, i think, within a month. we will develop such a product, and also present it, but ruslan borisovich seems to be interested in your opinion. here they say that, uh, from below, you can see better from the side, here you are, like an official who is responsible for financial and economic development of their region. here, what do you think

at the national level, this is the system of institutions and measures for the development of investment policy, is it enough or, maybe, you see, some areas, some issues that require, well, additional study of the development of improvement adjustments. what about institutions? yes, we see, and in our country such institutions have been created, first of all , a national investment agency for privatization, free economic zones in each region, chambers of commerce and industry such tools that are already uh operating and help our business in one form or another, or implement. products or to implement investment projects at home back in 2016, the mogilev region , the regiment created a separate regiment created a separate unit, the mogilev regional development agency. by the way, we looked at this experience in the russian federation and set four tasks for it. the first is the direct attraction of investments, that

is, on the ground in the regions in the districts of our mogilev region, to help exactly the district executive committee, but to form their investment proposals into some kind of shell. and then to bring them to the level of the national investment agency, first of all, the second is support for small and medium-sized businesses in terms of product sales, that is, the school of exporters. so-called for small and medium businesses. we do. moreover, what is also important is the school of exporters for small and medium-sized businesses. you conduct as groups are formed for free, the third direction is the development of the it industry e. well, we also see in ourselves, this is the direction promising in our country as well. we are forming this environment, starting from universities and pulling up existing organizations in this area, it seems to me, with such competence and such tasks in other regions. i do not know of such agencies, and we see that this is indeed an additional tool for the development of the region. maksim leonidovich is understandable that the unfair sanctions pressure that

is applied to belarus caused it. uh, stagnation and restructuring. here, uh, foreign investment flows. well, it's inevitable. uh, but we need to replace you. western investment was said to be eastern and steps are being taken in this direction. you marked them. this is an active union building with russia and the implementation of joint investment projects. this is our integration within the framework of the eurasian economic union. it is also very important to resolve some issues related to the harmonization of the legal framework here , investment regulation. and the third. well , let's be frank. we have something to be proud of, and belarus is actively building up its diplomatic efforts to deepen trade economic ties with countries. uh, far abroad, that is, the ministry of foreign affairs and other government agencies. well,

they are extremely active in this direction. here, please tell me, your opinion will succeed, lena, to replace western investments with eastern ones, and secondly, how do you evaluate the results in these three areas. they. well , there is something to be proud of, things are moving forward, the process of building up our interaction with distant arc countries with the countries of southeast asia is developing quite dynamically. maybe maybe these projects are not advertised for obvious reasons, but today we are going. to create new e-assembly plants in the countries of central asia, we are going to southeast asia with such projects, and we are opening our e- productions in africa in south america . it is clear that we deliberately do not draw attention to these projects, because as soon as

we start promoting our activities, diplomatic efforts to promote these projects is detrimental to the projects. they attract undue attention from uh countries that sanction us are starting to apply them against already. the partners themselves of the countries that create these projects, but to say that the attractiveness of belarus as an investment site for foreign investors has decreased for some reason or the state has begun to do less in terms of creating an institutional legislative social infrastructure environment for the implementation of these projects . on the contrary, we do more, so the world is changing. and uh, the direction of investment

is changing in the wake of those changes today. ah, frequent visitors. we have our russian partners in our country. well, representatives of the regions of russia, this is already a traditional agenda of the head of state meetings with the leaders of the regions the visit of the head of state to china , how many new ideas and projects were born there. international cooperation agenda for any leader today, but uh, that doesn't mean that we are closing the door to investments from our western partners, with whom we have been cooperating for a long time. this door remains open alexander andreevich

what are some examples of successful implementation of investment projects with the participation of a development bank? can you cite and what effect did they have for the country, well, if we talk about the effect for the country, then we generally evaluate, uh, the development bank's lending, its effectiveness, if we talk about it. in 2022 , the volume of lending from the bank amounted to more than u, nine u, billion belarusian rubles per year, well, according to our estimate, the gdp is effectively about 4% of gdp, but these are different projects. these are investment projects of this lending current activity. this is a very important area that we developed last year. these are export credits. and if we talk about successful examples , it’s clear that we talked a lot about the fact that in 2020 the twenty -second we had a serious drop in investments, and the main projects that they were connected with were, uh, with

investments not in industry investments, and in social infrastructure. this and the ring road, which was talked about around mogilev, this project was financed by the development bank, this and, uh, understudy. uh, in the city of mogilev, this is both a bypass road, and settlements of the world. and this is a construction project that we implemented in the grodno region to finance the construction of a bridge, and, if we talk about industry, well, the last most important one - it is probably planned to open in june. this is , uh, a branch of the grodno glass factory absolutely new production. and there, uh, it was both a plant and a reconstruction of a power unit. and as well as an important project a small building. it would seem not so important. this is a traction substation of mines severny, but in fact it is, but the heart of the whole city of minsk in terms of providing electricity for train traffic. these projects were also financed by the development bank well

, if we talk about the future, then about half of all integration projects that we are implementing as part of financing from the russian federation will be projects of the development bank and the very first one, which first of the year to receive funding - this is bomselmash. i think that this will be the very first one that started financing the first one that finally implements this project ah and the first of all that ruslan borisovich will show the effect from the point of view of the economy . you mentioned the investment projects that are being implemented in the mogilev region, but here from your point of view, the top 3 most significant investment projects. uh, what is it and what contribution do they make to the development of the region and our country, you know in order to evaluate the contribution development of the region is probably not enough for one year. i will say. e, a little more perspective over the past 10 years, e we, in fact, created new industries or directions

in the mogilev region. we have implemented a number of woodworking projects with high added value from production. we have implemented a number of new directions in the chemical industry. including the most important projects on carbon black in fact for the republic of belarus this is a new competence. this is a new industry. we have implemented a number of projects. e. slightly cut sanitary and hygienic products are all projects of the mogilev region. and this new direction, which appeared in the metalworking of our enterprise technolite protos, has really grown into very large players in 10 years. all this, in fact, in 10 years has allowed us to change the structure of the economy of the mogilev region, which is no longer so susceptible to export. i will give only two figures. in 2011, the mogilev region had a negative balance, foreign trade was $100 million, that is, we imported $100 million. more dollars than exported already on the basis of 22.