Import substitution will be one of the main directions of Belarus's economic development in the upcoming five-year plan - A. Lukashenko

November 26, Minsk / Alina Grishkevich - BELTA /. Import substitution will be one of the main directions of economic development of Belarus in the next five-year period. This was stated by President of Belarus Alexander Lukashenko today during a visit to FEZ "Minsk", according to a BELTA correspondent. "There is no need to import toothpicks," Alexander Lukashenko said. According to the head of state, a vivid example of effective import substitution is the activity of the Belarusian-Swedish joint venture "Bakko Bisov", which is a resident of FEZ "Minsk". It was registered in December 2006, the founders are the Swedish company "Bakko Bisov Svenska AB" (98%) and the Belarusian individual enterprise "Bakko Instruments" (2%). The joint venture is implementing the investment project "Construction of a plant for the production of bimetallic band saws" in the territory of the "Minsk" free economic zone. Its construction began in the autumn of 2008, and in January 2010, the first start-up complex was completed, including administrative, utility, and production buildings. The second stage of construction will be completed no later than 2012. JV "Bakko Bisov" possesses unique technology and equipment for the production of bimetallic band saws, which have no analogues in the CIS countries. Due to high quality, the manufactured products are in constant demand and are used in 130 countries around the world. This export-oriented JV is high-tech and innovative. As the President was informed, despite the fact that the construction of the plant took place at the height of the global economic crisis, there were no disruptions with investments. Alexander Lukashenko highly appreciated the activities of JV "Bakko Bisov" of the "Minsk" free economic zone. The head of state also familiarized himself with the activities of SOOO "AluminTekhno" and OOO "Alutech Incorporated". -0-