Vitebsk region must significantly increase investment activity – Vladimir Andreichenko
The Vitebsk region must pay serious attention to increasing investment activity, including intensifying efforts to attract foreign investment, stated Chairman of the House of Representatives of the National Assembly Vladimir Andreichenko at a meeting of the Vitebsk Regional Executive Committee, according to a BELTA correspondent.
"Investment is a key indicator of regional development, it is the future of every district, of any work collective," the speaker emphasized. At the same time, according to the results of 2018, the Vitebsk region was the only one in the country that did not fulfill the target for attracting foreign direct investment, while other regions are working much more effectively in this direction, Vladimir Andreichenko stated. The Vitebsk region also performed less effectively in attracting investment in fixed capital, and this trend continues as of January 2019.
Among the issues that deserve special attention in the Vitebsk region, Vladimir Andreichenko highlighted the need to keep under constant control the work on improving the development level of lagging regions. Interaction with small and medium-sized businesses needs to be improved, and methods for unleashing business initiative should be adjusted, taking into account the experience of leading regions in this aspect. A significant reserve for economic development lies in bringing unused and deteriorating real estate into circulation. Perhaps, in this regard, approaches should be changed: to put vacant buildings in order and modernize them at the expense of the local budget and subsequently lease the premises, which will provide additional and constant income to the budget again, Vladimir Andreichenko noted.
Analyzing the results of the Vitebsk region's performance in 2018, the Chairman of the House of Representatives noted that the region as a whole has moved forward and shown positive dynamics in a number of indicators. Thus, the region achieved an increase of 2.2% in gross regional product, was the only region to show a positive result in gross agricultural output, industry increased production by 8.6%, and services exportsgrew by 33%. That is, the foundation for moving forward has been laid, emphasized Vladimir Andreichenko.
However, based on the results of the first three years of the five-year plan, the Vitebsk region is not fulfilling such a key indicator as the growth rate of GRP. Therefore, in the remaining two years, increased attention must be paid to this issue. In addition, for a number of years, the share of the Vitebsk region in the republican volume of industrial production has been declining, which amounted to 15.1% in 2018 (in 2010 - 17.5%). Last year, the number of loss-making industrial enterprises increased by 13%. These and other indicators suggest that much more needs to be done in the region for the real recovery of the economy, believes the Chairman of the House of Representatives.