Vitebsk oblast to put Br167 million in business activity in 2008

The Vitebsk oblast plans to put Br167 million in business development in 2008, BelTA learnt from Valentin Tsvetkov, the head of the business activity department of the economy committee of the Vitebsk oblast executive committee. The non-state sector of the region’s economy development has been envisaged in the oblast business activity support programme for 2006-2008. The funds will be used to expand the business infrastructure, business information support improvement. The business activity department will continue the publication of materials related to business activity and offer educational seminars for people starting their own business. In 2008, special attention will be turned to business development in the rural area. A part of the resources will be put in to support investment projects in small towns, to expand services in the rural area and to develop the infrastructure of agro- and eco-tourism. nAccording to the economy committee of the oblast executive committee, the Vitebsk oblast has registered nearly 4.5 thousand juridical entities and over 30 thousand sole traders. More than 60 thousand people work in the non-state sector of the region’s economy. The production of industrial products accounts for almost 24% of the business activity in the region. Over 10% of the companies are engaged in construction, 35% of private companies are involved in trade and public catering. In 2007, private companies invested nearly Br96 billion in the production development, created more than 14 thousand working places.