Belarus: Minsk Implements More Than 40 Invesment Projects

MINSK, Dec 3 (NNN-BelTA) - More than 40 investment city development projects are carried out in Minsk with the use of foreign capital, Natalya Vazhnik, head of the investment department of the Economy Committee of Minsk City Council, said.

At a meeting Wednesday of Belarusian and Czech businessmen, he said although the world financial downturn made many investors cancel their plans, yet, the investment activity in Minsk fell only in H1 2009.

In July 2009 the situation improved, business meetings with potential investors became more frequent. The relations with Czech companies have recently been vibrant.

?In early 2009 Minsk authorities signed a protocol of intent to build a facility with a Czech company. The foreign partner met all the deadlines,? Natalya Vazhnik noted.

The Czech company is planning to build a hotel at the crossing of Independence Avenue and the Minsk Ring Road by 2013. The sides have considered the architectural concept of the building and are now discussing the terms of an investment contract.

Representatives of 17 Czech companies took part in a businesses matchmaking session.

These Czech companies operate in different areas including chemical industry, production of nanofibres, hydraulic equipment, wind power stations. The visit of the Czech delegation to Belarus will finish on Thursday. - NNN-BELTA


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