OREANDA-NEWS. October 18, 2010. The development of business plans of the projects envisaging Chinese investment to the tune of USD15 billion should be prompted, Belarus President Alexander Lukashenko said as he met with Prime Minister Sergei Sidorsky to receive his report

The meeting highlighted a range of large investment projects. Alexander Lukashenko instructed to speed up the process of drawing up business plans for several important projects which were coordinated and agreed during his last visit to China. While in Beijing, Alexander Lukashenko and the President of China signed a package of documents on the implementation of USD3.5 billion worth of projects. Financing of the projects will start in December. The President of Belarus also demanded to launch the majority of the projects this year. Among them is reconstruction and technical upgrading of the companies of the petrochemical industry, modernization of engineering plants. There are nearly 30 projects pertaining to the modernization of the energy system, projects to construct new manufactures in the country.

The President stressed that the projects should be submitted to the Chinese partners in the near future.

The head of state was also briefed on the agenda of a regular session of the Union State Council of Ministers. The agenda includes over 30 issues.

The 2010 Union State budget performance will highlight the agenda of the session. Among other important issues on the agenda are the Union State budget for 2011, the development of the trade and economic relations in January-September, foreign trade relations with the Russian Federation.

The session will also discuss the issues of military and political cooperation, i.e. border protection, the implementation of the agreements reached at the previous session of the Supreme State Council in Moscow on joint air defense troops.

The President was briefed on the country’s economic development in January-September 2010. GDP growth made up 6.6% over the same period last year. The industrial output went up by 10%. The export exceeded the import by 3%. Five million square meters of housing were commissioned.

The state fulfills every social commitment to the payment of pensions and benefits, pay rise.

Alexander Lukashenko also urged to intensify the investment activity. Today the investment growth stands at 9-10%, and it is projected to reach 25% by the end of the year.

Inflation makes up 6.8%, i.e. within the preset parameters.

The head of state was also briefed on the preparations for Belarus Investment Forum in Frankfurt am Main (Germany) in November.