OREANDA-NEWS. December 10, 2008. Belarus suggests Russia to consider an opportunity of mutual investing in the processing of dairy products, meat, fruit and vegetables. That will help expand the supplies of high-quality products between the two countries, First Deputy Agriculture and Food Minister Nadezhda Kotkovets said at a joint session of the Agriculture and Food Ministries of Belarus and Russia.

Belarus has a well-developed agricultural production network. The processing industry, however, needs investments. The country provides a special order of functioning for the profit-oriented businesses in order to attract investments in Belarus’ agricultural industry. The companies including those that have been recently set up are exempted from some taxes and duties through 2012. Preferences are valid in state duty and budget compulsory payments. Soft lending and preferences for the organisations that acquire loss-making agricultural companies are available.

According to Nadezhda Kotkovets, 85 loss-making organisations, which were acquired by investors in 2004, have doubled the production and reached profitability over the last five years.