In 2006, small and medium enterprises of Vitebsk oblast export products worth of $370mln

In 2006, small and medium enterprises (SMEs) of the Vitebsk oblast exported products worth of $370 million, the chairman of the Vitebsk oblast executive committee, Vladimir Andreichenko, said during the award ceremony of Best Entrepreneur 2006 Contest.

In 2006, the volume of investments of the entrepreneurial sector soared by more than 47% to exceed Br78 billion. Around 50 thousand people, or 9% of the workers, work for SMEs. Jointly with the bodies of authorities the entrepreneurial sector has been working on improvement of the living standards promotion of employment, the governor said. Last year alone small companies and sole traders created more than 10 thousand new jobs. They help extend the networks of outlets, repair shops and other facilities in towns and rural areas.

Vladimir Andreichenko said that with a view to promoting small business the oblast has been implementing the regional program to support small business. It is aimed at increasing the efficiency of SMEs, boosting their production and investment activities.

The entrepreneurial sector has an untapped potential to boost business activity. It is becoming increasingly important for the developing economy, the chairman of the Vitebsk oblast executive committee said.