The private company "Lyubava" has invested about 1 million euros in the creation of a production facility in the settlement of Borovuha, Polotsk district.

March 16, Polotsk District / Diana Kurilo - BELTA/. Novopolotsk private company "Lyubava" has invested about 1 million euros in the creation of a new enterprise in the village of Borovukha (Polotsk District), Director of the company Vyacheslav Malinovskiy told a BELTA correspondent. "Additional opportunities provided to private business by the President's decrees stimulate entrepreneurs to invest funds in the production sector in rural areas and small towns," the interlocutor believes. For example, a new enterprise opened in a rural area is now exempt from profit tax for 7 years, which allows reinvesting the freed-up funds into business development. "Lyubava," having calculated the benefits of these preferences, decided to organize the production of "Lyubava-lis" outerwear knitwear in the village of Borovukha, which is included in the program for the development of small and medium-sized cities. The company acquired production facilities and then attracted foreign loans to purchase the latest (2008-2009 models) high-tech equipment: knitting, sewing, embroidery machines, and software for their operation. At the first stage, the investment volume amounted to about 1 million euros. However, according to Vyacheslav Malinovskiy, the acquisition of several more machines is planned for the current year. Thanks to the new enterprise, almost 100 residents of the village have received jobs, and by the end of the current year, "Lyubava" will provide stable employment for another 150 people. The first batches of products – men's and women's sweaters – are being prepared for shipment to trading companies in Belarus and Russia. By the end of the year, "Lyubava-lis" intends to produce goods worth Br800 million. As Vyacheslav Malinovskiy noted, in January-February of the current year, the enterprises "Lyubava-lux" and "Lyubava-invest," which are part of the company, doubled their export volume to the Russian market. In February, both enterprises produced goods worth Br2.1 billion, with one-third of them exported. Warehouse stocks amount to half of the monthly norm. By the end of the year, the enterprises of the "Lyubava" company intend to increase the output of knitwear by 30%. The "Lyubava" company has been operating in the domestic market for 16 years. 650 people work at its enterprises. The average monthly salary is Br980 thousand.