Oleg Matskevich: Business development is a strategic objective for Vitebsk Oblast

VITEBSK, 24 November (BelTA) – Business development is a strategic objective for Vitebsk Oblast, Vice-Governor of the oblast Oleg Matskevich said at the 3rd international economic forum, Your Business, which is held in Vitebsk. The private sector is an important and substantial component of the oblast’s social and economic complex. It is also an inalienable element of competition, which raises funds, creates jobs and resolves other social problems, Oleg Matskevich said. Some 7,600 private companies and 30,000 of individual entrepreneurs operate in the region. The number of legal entities has almost tripled over the last five years. The number of those employed at private companies is 82,000 people. A steady increase in the number of small businesses is one of the major objectives for the region. The companies of Vitebsk Oblast should also take measures to raise the efficiency, output and quality of goods and services, and increase their ratio in the gross domestic product, Oleg Matskevich said. The Vitebsk Oblast Executive Committee will address the business development as a key factor in the middle class formation, and a basis of the region’s development. The main point is to keep creating favorable environment for businessmen, he added. The Your Business forum is one in a series of events to support business. The forum provides ground for business talks. It also presents state-of-art business technologies. This year’s forum saw a subcontracting exchange. Taking part in it were about a dozen of companies from Vitebsk Oblast and Minsk, which presented their proposals to develop cooperation. Another new event was a business ideas exchange, which featured presentations of marketing researches in the rural districts of Vitebsk Oblast, investment proposals, alongside real property and businesses, which were put up for sale.

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