Czech, Latvian investors to set up joint ventures with Vitebsk Evistor

VITEBSK, 20 May (BelTA) – Czech and Latvian investors are interested in cooperation with Vitebsk-based plant Evistor. The protocols of intention to set up joint companies were signed during the innovation-investment forum “Innovation Business – Investment in the Future” in Vitebsk on 20 May, BelTA has learnt. Deputy Chairman of the Board of the RAR plant Lubis Gunar told BelTA that the company has over than 50-year-long relations with the Belarusian producers. Setting up a joint company will be a logic continuation of the already established cooperation. A Belarusian-Latvian company is supposed to produce spare parts for tractor equipment which is currently imported to Belarus from Russia, Poland and Sweden. According to him, Evistor equipment may help establish the production of high-quality space parts under the technical documentation of the RAR plant. The partners do not rule out that the products might be exported abroad. The Czech OW PLUS plans to produce jointly with Evistor items for electric equipment for engineering and agricultural companies of Belarus and foreign countries. The preliminary estimate of the project makes up nearly ?5 million. Eight protocols on intentions on cooperation were signed within the framework of the innovation and investment forum in Vitebsk including a protocol of intentions on cooperation between the Vitebsk Oblast Executive Committee and PDW Group (Czech Republic) to develop the Vitebsk airport infrastructure with a total investment of ?50 million. Half of the signed documents suggest the establishment of manufacturing facilities in small towns. For example, foreign enterprise Glyasgall in Lepel is going to implement a project to establish a facility for medical paper cutting and packing. Attending the investment forum which is held in Vitebsk on 20-21 May are more than 200 business representatives from 12 countries. Over 150 new proposals were presented to potential investors. The priority areas are innovative technologies in the field of logistics, energy, food and woodworking industries, machine building, pharmaceuticals, tourism. The program of the forum also includes the scientific and practical exhibition of innovative and investment projects “Science. Innovations. Investments”, presentation of priority projects, a business matchmaking session, tours of companies and investment sites. Investors will have the opportunity to get acquainted with the projects that have already been successfully implemented in the region, talk to businessmen who are engaged in investment activities in the region.

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