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P. Rudnik: production that finds no market causes deficit of circulating assets

During the session of the regional Deputies’ Council dedicated to functioning of Mogilev region executive committee in 2012, Petr Rudnik paid attention to the problem of the production that finds no market. It is kept in stock, thus causing deficit of circulating assets.

By January 1, 2013 finished stock in the region made up Br 2 trillion 78 milliard. “The rate is not the worst in the Republic, but it stands for the lack of deficit of circulating assets that enterprises need so much”, Petr Rudnik added.

The problem must be solved by promoting competitiveness of production, both in price and quality, as well as by improving marketing strategy and entering new markets. Naturally, the problem of modernization of enterprises has still been urgent. The respective operation plans for the period of 2013-2015 have been approved for city and district executive committees. They envisage modernization of 617 out of 943 regional enterprises. By the end of a five-year period sales proceeds and additional charge per worker must increase twice and reach $61.9 thousand and $22 thousand respectively.

“At the same time heads of enterprises should look for additional sources of financing to reach the objectives set in the plans,” – Petr Rudnik stressed. - “In case enterprises have been modernized and reorientated for up-to-date production by the end of a five-year period, we’ll achieve the major task - improve the people's well-being”.

Increase in exports, modernization of production process on the basis of the most advanced scientific technologies, construction of modern enterprises is impossible without attracting investments, the governor stated. In 2012 the volume of foreign investments attracted made up $71.6 mln, i.e. 70% of the prognosed rate. In 2013 Mogilev region needs to attract $145 mln. To reach the objective, Mogilev region executive committee has compiled a list investment projects; the majority of them aim at “Mogilev” Free Economic Zone. “Special attention should be paid to large-scale investment projects that envisage import substitution and generation of new jobs”, Petr Rudnik concluded.

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