Friday 29 March 2024 | 05:24

Vasily Shlyndikov: Citizens of the country should become investors in the first place

19.10.2012  |  Economy   |  Zmicier Kazlouski, EuroBelarus,  
Vasily Shlyndikov: Citizens of the country should become investors in the first place

Holding specialized forums only in theory contributes to attracting foreign investment in the country.

This opinion was stated by Vasily Shlyndikov, ex-president of the concern “Amkodor”, in a conversation with the EuroBelarus Information Service.

The VII Belarusan Investment Forum will be held in Minsk on November 15-16 with the participation of Belarusan prime minister Mikhail Myasnikovich. According to Vasily Shlyndikov, the forum will be nothing more than a conversation on the topics of investment.

"These conversations will be held until our citizens become investors, buy shares, become the owners of factories and ships. Until then, nothing happens, and foreign citizens will not put their money into our economy", noted the expert.

According to him, international experience suggests that foreign investors come into the country only after the country’s citizens demonstrate their willingness to invest. And in the case of Belarus, it can happen only "once there is a normal economy, once we give up building the socialism, resuscitation of the socialist economic system in a given country". "Once we stop to manually manage the economy by decrees, but the legislation will be in rule", added Vasily Shlyndikov.

He believes that leaving the projects in Belarus by certain investors is related exactly to the fact that they "have faced our system of management". "That is, they had hoped for contractual obligations, being in our authorities’ good graces, thus they were thinking, "nothing, we’ll break through". And then gradually they realized that all of this would be very risky, therefore, they refused", said the source of EuroBelarus.

"Actually, in many respects, the devaluation scared the people away, as they started thinking, well, and decided not to take risk, despite the high blessing", the “Amkodor”’s ex-president added.

Vasily Shlyndikov noted that even Chinese investors are wary of investments in Belarusan projects. "But they are obviously guided by others, dominating geopolitical interests, and these interests are above concerns and risks. Herewith they are, as we see, very cautious. I somehow do not see a big number of investments from the Chinese side. In fact, there are only assurances", he said.

Working on improving the various ratings of investment attractiveness, in the expert’s opinion, is no more than "a waste of money".

"I have not seen any country with a similar regime of management where foreign investments would flourish", concluded Vasily Shlyndikov, noting that in such conditions "only pointed projects" could be successfully implemented.

Let’s recall that recently the Belarusan authorities have once again demonstrated their attitude to investors, actually having nationalized the "Spartac" and "Kommunarka" confectionery companies.

Other news section «Economy»

Leanid Zaika: Minsk decided to beat the Kremlin by Iranian oil
Leanid Zaika: Minsk decided to beat the Kremlin by Iranian oil
There are no strategic goals behind the purchase of Iranian oil, believes economist Leanid Zaika.
Stanislau Bagdankevich: The living standard will continue to fall in 2017, and possibly in 2018
Stanislau Bagdankevich: The living standard will continue to fall in 2017, and possibly in 2018
In 2017, Belarus will have to pay about $ 5 billion debts, which may affect the level of welfare negatively.
Leu Margolin: Industry cannot rise from its knees
Leu Margolin: Industry cannot rise from its knees
Although 30 percent of Belarusian enterprises can still be revived through urgent structural reforms.
Stanislau Bagdankevich: Next year will be harsh
Stanislau Bagdankevich: Next year will be harsh
Stagnation will continue in 2017, the standard of living will not rise, and the banking system may experience a crisis.
Andrei Yeliseyeu: Russia cannot impose quotas on the Belarusian dairy products supply
Andrei Yeliseyeu: Russia cannot impose quotas on the Belarusian dairy products supply
Belarus has already agreed to reduce the level of state support to agricultural producers in the framework of the Eurasian agreements.  
Leu Margolin: It is impossible to bring back the 500 dollars salary
Leu Margolin: It is impossible to bring back the 500 dollars salary
The authorities will start pressuring businesses to make them raise salaries.
Uladzimir Kavalkin: Drop in income? Salaries are finally becoming adequate to the economy state
Uladzimir Kavalkin: Drop in income? Salaries are finally becoming adequate to the economy state
Income may drop even a little bit more, but it will not be anything dramatic - within a few percent, expert believes.
Leu Marholin: In 2017, the probability of economic growth is close to zero
Leu Marholin: In 2017, the probability of economic growth is close to zero
In 2016, Belarusian authorities were expecting growth, too. However, the economy is going down.
EBRD will prepare five state companies for privatization
EBRD will prepare five state companies for privatization
The Belarusian government has invited the European Bank for Reconstruction and Development (EBRD) to prepare five large state-owned companies for privatization.
 Leu Marholin: We are heading full speed to the new nineties
 Leu Marholin: We are heading full speed to the new nineties
Regression of the Belarusian economy combined with the inertness of the government will make us recall the worst years.  
Uladzimir Kavalkin: Statistics on unemployment and real unemployment are poles apart in Belarus
Uladzimir Kavalkin: Statistics on unemployment and real unemployment are poles apart in Belarus
Officially, the unemployment in our country is reducing – if judging by the number of registrations at the labor exchange; however, the number of jobs doesn’t increase in the economy.
Leanid Zaika: Decline in prices on gas should lead to the reduction in utility costs
Leanid Zaika: Decline in prices on gas should lead to the reduction in utility costs
In the situation of cheaper prices on gas Lukashenka's decree on non-cash housing subsidies looks weird.
Point of view: Defence industry in Belarus evolved from helpless to a weighty branch of economy
Point of view: Defence industry in Belarus evolved from helpless to a weighty branch of economy
Recently Belarus State Military Industrial Committee announced that in the first half of 2016 its enterprises earned a net profit of $80m, thus over-fulfilling the assigned export plans by a quarter.
Leu Marholin: It looks like the Belarusian PM has got a fortuneteller
Leu Marholin: It looks like the Belarusian PM has got a fortuneteller
The fall of the economy will continue in 2016; we should hardly expect growth in 2017.
Why with the success abroad, Belarus’ agriculture keeps failing at home?
Why with the success abroad, Belarus’ agriculture keeps failing at home?
Poor economic conditions in the countryside, restrictions, unfair competition, inefficiency of state-owned agricultural enterprises also contribute to this ‘success story’, writes Aliaksandr Filipau.
Viktar Marhelau: We killed consumer demand inside the country
Viktar Marhelau: We killed consumer demand inside the country
In the situation of everyone’s impoverishment administrative procedures are now being perceived painfully.
Opinion: The question of what role China can play in Belarusian development remains open
Opinion: The question of what role China can play in Belarusian development remains open
On 20 June Lukashenka met with vice-chair and president of the Chinese CITIC Group Corporation Wang Jiong; it seems especially important in light of Lukashenka’s planned visit to China in September.
Lukashenka: Only lazy people don
Lukashenka: Only lazy people don't earn well in Belarus
All the conditions for everyone to be able to earn a decent salary have been enabled in Belarus, however, it is necessary to make some effort to get the money, assumes the president.
Leanid Zlotnikau: The government knows what to do with the economy, but will do nothing
Leanid Zlotnikau: The government knows what to do with the economy, but will do nothing
Belarus is losing currency earnings – in the 6 months of 2016 the country earned 3 billion less than in the same period in 2015. Instead of removing the causes of the flop the state relies on magic.
Russia
Russia's Rosatom agreed to replace reactor vessel at Belarus NPP
State Corporation Rosatom has agreed to replace reactor vessel at the Astravets NPP in Belarus.
Gintautas Mažeikis: The relation of political field and arena in the framework of information war

In his report, philosopher Gintautas Mažeikis discusses several concepts that have been a part of the European social and philosophical thought for quite a time.

“It is our big joint work”

It is impossible to change life in cities just in three years (the timeline of the “Agenda 50” campaign implementation). But changing the structure of relationships in local communities is possible.

Shhh! Belarus Wants You to Think It’s Turning Over a New Leaf

Minsk’s muddled media clampdown could jeopardize warming of relations with the West.

Mikhail Matskevich: How to create a local agenda and make it a problem solving tool

To achieve changes, you need to be interested in them and stop pinning all hopes on the state.