A 'roadmap' for investors will be developed in the Vitebsk region

To enhance the effectiveness of interaction with investors in the Vitebsk region, a "roadmap" will be developed in the form of a model algorithm of actions for project implementation based on investment agreements. This information product is designed to make the investment process as comfortable as possible.

This was discussed at a meeting of the regional executive committee on May 26, during which the practice of applying investment agreements as a tool for implementing priority tasks for the development of cities and districts, as well as the entire Dvina region, was analyzed. Preceding the discussion, **First Deputy Chairman of the Regional Executive Committee Gennady Grebnev** noted that Decree No. 10 "On Creating Additional Conditions for Investment Activities in the Republic of Belarus" defines a specific list of state support measures applicable to each project based on an investment agreement, up to the possibility of making decisions at the highest state level. The normative act has been in effect for almost seven years, during which time practice has been accumulated, and much has had to be learned, so there is material for analysis and development of approaches to improve this activity. Especially since, as it turned out, knowing the way and walking it are not the same thing.

The statistical basis for the analytics looks like this. In total, 173 investment agreements have been concluded in the Vitebsk region for a total amount of about 23.3 trillion rubles. Of these, more than a third of the projects have already been implemented (3.1 trillion rubles have been mastered, over 3.2 thousand jobs have been created). Another third have not been implemented for various reasons. Currently, 46 agreements are in progress (26.6% of the total number of signed agreements) for almost 17 trillion rubles, and a fifth of them are stalling. In particular, 60 agreements provided for attracting foreign investment, of which more than half of the projects worth about 390 billion rubles have been successfully completed or are still being implemented, the rest remained on paper.

As **Deputy Chairman of the Regional Executive Committee Oleg Matskevich** noted, today the most important task for the socio-economic development of the regions is the creation of high-performance jobs. In the Vitebsk region, due to the emergence of new

enterprises and industries, it is necessary to employ about 3.3 thousand people, but objectively this figure needs to be almost doubled – this is required by the developing situation. It is from this perspective that the activities of local authorities on investment agreements should be considered. For now, most districts are working in this direction below their capabilities: a number of executive committees actively initiate the conclusion of investment agreements, but most of them do not even reach the stage of examination. The administrations of some regions have not prepared a single project on their own during this period.

One of the main and most common shortcomings in the practice of local authorities is the low level of readiness of investment proposals. This concerns, in particular, the fact that the project efficiency indicators are often not defined, there are no calculations for product sales, and there are no descriptions of the technologies required to ensure competitiveness. Often, proposals for selecting the most attractive land plots for a specific project are not ready, issues of resource provision are poorly developed, and the assessment of the region's human resources potential is not carried out. These are basic things that should be the starting point for convincing potential investors of the need to invest in the development of a particular district, emphasized Oleg Matskevich.

Also, most executive committees limit their investment needs to projects involving the construction of shopping centers or the expansion of service infrastructure.

– This is, of course, necessary, but for many regions, it is strategically more important to focus on creating new industrial enterprises or agricultural production, but there are practically no such proposals, – stated the Deputy Chairman of the regional executive committee.

The recent investment forum in Vitebsk showed that potential partners are actively interested in wood processing projects, the construction of biogas plants, are looking for opportunities to organize the production of components for mechanical engineering, and are ready to cooperate in the field of water treatment equipment production, lifting mechanisms,

cable products, building materials, transport services. In other words, there is demand, but to satisfy it, it is necessary to engage in direct dialogue with the investor and be able to persuade them competently, added Oleg Matskevich. Here, the regional authorities are ready to support all participants in the investment process. By the end of June, a "roadmap" for the implementation of investment agreements is planned to be developed in the Vitebsk region, which will represent the procedure for actions at all stages of project implementation, from their development and presentation to the commissioning of the facility.

Sergey Antonov. Photo by Anton Stepanishchev. "Vitebskiye vesti".