OREANDA-NEWS. May 24, 2011. Financing of the state innovation development program for 2011-2015 is expected to reach 58 trillion Belarusian rubles (Br), the chairman of the State committee on science and technologies of Belarus, Igor Voitov, said at a news conference on Thursday.

Foreign investments are expected to make up 60% of the total, including 10% in FDI, companies’ own funds are to reach 15%, bank loans, 15%, and local budgets are to provide 0.2% of all funds.

It is planned to complete 223 projects, create 20 holdings, three new technoparks, and 20 engineering companies.

It is planned that large transnational companies will be engaged, including BASF, Siemens, Danieli, Huawei, KAMAZ, etc.

Voitov also said the Committee would assist Belarusian companies in their efforts to be listed at global stock exchanges, including NASDAQ, London Stock Exchange and Warsaw Stock Exchange. However, due diligence of the candidates needs to be completed first, and international organizations may be involved in this, Voitov said, adding that Belarus had listing proposals from the WSE.

Deputy head of the innovation and investments department with the Industry Ministry, Valery Fishman, said the Industry Ministry would complete 33 projects worth 6.5 trillion rubles; foreign investments will reach 3.013 trillion rubles.

The largest projects of the Industry Ministry are the creation of a flat stock production at BMZ with Italian Danieli, production of section iron, and a high-duty cast iron production at MMZ.

It is also planned to organize assembly of MTZ tractors and MAZ trucks in Venezuela, create a motorcar production at CJSC Unison, and expand the household appliances production at Midea-Horizont.

Deputy Communication Minister of Belarus Sergei Nesterovich said the ministry was expected to implement seven projects worth a total of 3.8 trillion rubles. “The main project is the construction of a multiservice network; we will focus on IP solutions,” he said.

The ministry will also carry out projects to build fiber-optic lines using xpon solutions and develop 4G communications using LTE solutions.