Indonesian MODENA, Belarusian Atlant become strategic partners

An Indonesian group of companies and the Belarusian company Atlant have become strategic partners with assistance of the National Agency of Investment and Privatization (NAIP), BelTA has learned.

The Indonesian group of companies MODENA is considering Belarus as a regional hub for promoting its interests in the post-Soviet space. MODENA Executive Vice President, a strategic advisor of an Indonesian MP Michael Jizhar mentioned it while in Belarus on a business trip.

MODENA makes household appliances for smart homes, solar-powered power supply systems, industrial and medical equipment. In 2021 the group's trade turnover totaled $8.8 billion, with the geography of sales covering 92 countries. The company is headquartered in Indonesia. There are also development centers in China and Singapore. The company has set up 11 regional offices and a number of joint ventures in Uzbekistan, Brazil, Mexico, and Algeria.

As part of cooperation with Belarusian ZAO Atlant MODENA is ready to invest about $85 million in the Belarusian economy initially and up to $150 million later on.

Michael Jizhar noted in social networks after the business trip: “Belarus has great industrial opportunities for the development of software and hardware and simplicity of investments. I hope our initiative here will encourage other corporations to view Belarus as their next industrial hub.”

While in Belarus the MODENA executive vice president also met with top executives and officials of OOO Bremino Group, the Hi-Tech Park, the China-Belarus industrial park Great Stone, the free economic zone Brest, OAO Brestgazoapparat, and Baranovichi Machine-Tool Plant. Possibilities for participation of Indonesian partners in production of electric scooters, the realization of the smart city concept were discussed as well as cooperation in information technologies and logistics.

Belarus' National Agency of Investment and Privatization started tightly working with MODENA in spring 2022. The agency provided the Indian company with information about local business operation terms, provided consultation services, and accompanied the delegation during the trip to Minsk. Evaluating results of the trip to Belarus, Michael Jizhar thanked NAIP Director Dmitry Krasovsky and his deputy Aleksei Pushkarev.