Commentary to Decree No. 467 of 14 October 2013
On 14 October President of the Republic of Belarus Aleksandr Lukashenko signed Decree No. 467 “Concerning measures to develop leather, fur and footwear production”.
The Belarusian leather and footwear holding company Marko with the management company SOOO Marko has been established in Belarus. The holding company will comprise San Marko, OAO Krasny Oktyabr, OOO Marko Service, Vitma, an enterprise set up at the premises of Vitebsk Fur Factory.
In line with the decree, the management company SOOO Marko will buy Vitebsk Fur Factory for one basic amount. There are plans to upgrade the factory and launch the production of footwear, furs and garments there.
The Belarusian leather and footwear holding company Marko will receive state support.
The decree will facilitate the reconstruction and modernization of fur production in Vitebsk with the annual output of 300,000 sheepskin, 250,000 furs within three years after the document enters into force. By 2019 the holding company is expected to produce at least 5 million pairs of shoes per year. In 2018 the profitability of sales will make up at least 12%. The sales revenue per one employee will reach at least $40,000.
There are plans to create 926 jobs, reduce the share of import in the footwear industry from 63.7% in 2012 to 31% in 2018. The foreign trade surplus is expected to increase every year due to lower import and higher export.
The Belarusian leather and footwear holding company Marko with the management company SOOO Marko has been established in Belarus. The holding company will comprise San Marko, OAO Krasny Oktyabr, OOO Marko Service, Vitma, an enterprise set up at the premises of Vitebsk Fur Factory.
In line with the decree, the management company SOOO Marko will buy Vitebsk Fur Factory for one basic amount. There are plans to upgrade the factory and launch the production of footwear, furs and garments there.
The Belarusian leather and footwear holding company Marko will receive state support.
The decree will facilitate the reconstruction and modernization of fur production in Vitebsk with the annual output of 300,000 sheepskin, 250,000 furs within three years after the document enters into force. By 2019 the holding company is expected to produce at least 5 million pairs of shoes per year. In 2018 the profitability of sales will make up at least 12%. The sales revenue per one employee will reach at least $40,000.
There are plans to create 926 jobs, reduce the share of import in the footwear industry from 63.7% in 2012 to 31% in 2018. The foreign trade surplus is expected to increase every year due to lower import and higher export.