Belarus working hard on privatization

Belarus confirms it is working hard on privatization. The statement was made by Prime Minister of Belarus Sergei Sidorsky as he met with Jan Waga, Chairman of the Supervisory Board of the Polish investment and consulting company AKJ Investment, on 28 September.

"We confirm that we are working hard on privatization and would like the process to be more dynamic, attracting investments into the economy," said the Prime Minister.

Sergei Sidorsky reminded that he had met with representatives of the Polish company for the first time in Gdansk on 1 September. Now Belarus is ready to continue the dialogue. "We have decided to set up a consulting and investment company in Belarus with assistance of AKJ Investment," remarked the Premier.

He stated that enterprises with a share of state capital are being actively converted into joint-stock companies in Belarus. The latter constitute over 40% of companies in the country. "We would like the process to be more active and to attract investments to these companies. But Belarus is not purely interested in privatization but in presenting the companies' potential for creating new production facilities, competitive products today and tomorrow," stressed the Belarusian head of Government.

Sergei Sidorsky said he was confident the meeting will contribute to further development of relations and resolution of many privatization issues. The Prime Minister remarked that the Belarusian side does not conceal information regarding the progress in privatization talks with other consulting companies. "The faster we find understanding, a compromise, the faster these issues will be resolved and the faster the privatization process will advance," he added. Sergei Sidorsky said he was confident that the Polish company will participate in the process.

Efforts to create a privatization agency constitute a certain part of Belarus' privatization work. The Prime Minister added that other forms of work are possible for the sake of advancing the privatization process.

Belarus is interested in cooperation with AKJ Investment and expects the company to come forward with concrete proposals for advancing the privatization process in the country. Sergei Sidorsky underlined that interest in the company relies not only on its consulting functions. "We would like to work with you for attracting investment resources and would like to use your experience in this field," said the Premier.

Jan Waga, Chairman of AKJ Investment's Supervisory Board, said that privatization proposals have been worked out since the meeting in Gdansk. The twenty years of experience of privatizing Polish company with assistance of AKJ Investment can be used in Belarus. "Privatization should prepare enterprises to allow them to take a good competitive place in the global economy," said Jan Waga. The company is ready to do its best to operate in Belarus, stressed the Polish guest.

AKJ Investment is a leading Polish private investment and consulting company. It specializes in managing private investment funds, investments in innovations, real estate as well as business and financial consulting. Over the last 15 years head of the group of companies Jan Waga has implemented investment projects worth around billion in total.



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