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Liozno District Executive Committee
Main / News / Republic


8 December 2011

Foreign companies ready to advise Belarus on privatization

MINSK, 8 December (BelTA) – Foreign companies are ready to become financial advisors in pilot privatization projects in Belarus. Dmitry Klevzhits, Director of the National Agency for Investments and Privatization of Belarus, made the statement at the international conference “Privatization in Belarus in 2011-2013: investment opportunities” on 8 December, BelTA has learned. “We launched a campaign to attract foreign companies that can become financial advisors for privatizing eight joint-stock companies in Belarus,” said Dmitry Klevzhits. Applications are accepted till 9 January 2012. Information about the tender to choose financial advisors has been posted in foreign mass media and will be posted in Belarusian mass media, said the source. “Interest in privatization is very high. Foreign banks, boutiques, consulting companies are already vigorously participating in the process,” he said. If the pilot project for privatizing Belarusian enterprises with assistance of foreign financial advisors is successful, it will be a positive signal for attracting foreign direct investments into the national economy. “Our foreign partners are confident in it, too,” said Dmitry Klevzhits. In his words, there is fierce fighting for FDI all over the globe now. “The better our system to attract investments in the country is, the more successful and competitive we will be in this process,” he said. Dmitry Klevzhits also mentioned tasks that the foreign advisors will have to deal with. They will have to prepare enterprises for privatization, analyze markets, work out privatization strategies, prepare legal documents, monitor and support the signing of contracts to sell and buy shares. They will also have to realize pilot projects to sell open joint-stock companies. Financial advisors will prepare and launch tenders. Experience is the key criterion for choosing the advisors. “It is important for us to get a respected company with successful experience of deals with small and medium businesses in Europe,” said Dmitry Klevzhits. It is also necessary that the said company should be related to the industries the Belarusian enterprises to be privatized operate in. The leader of the financial advisors team should have at least ten years of experience in this area. An office or a representative office in Belarus is a plus. Andrea Dall'Olio, Chief Economist for Europe and Central Asia Department of the World Bank in Belarus, said that the World Bank is ready to support privatization processes in Belarus because privatization will allow raising the effectiveness of enterprises. He believes that it is the key critical goal for the bank and Belarus’ leadership. He also said the choice of the financial advisor for privatization in Belarus was important. “Transparency and openness are important in a privatization process. Financial advisors will help with that,” said Andrea Dall'Olio. The National Agency for Investments and Privatization of Belarus will take care of selling shares of eight open joint-stock companies. The list includes the Baranovichi-based reinforced concrete products factory, Belsantekhmontazh-2, Avtomagistral, Construction and Installation Group No. 8, Belgazstroi, Medplast, Konfa, Minsk Margarine Plant. Their shares will be up for sale in line with the privatization plan for 2011-2013.