Commentary to Decree No. 241 of 24 May 2012

    On 24 May President of Belarus Aleksandr Lukashenko signed Decree No. 241 "On the Formation and Operation of the Jewelry Holding Company".

    In line with the Decree, the management company of the jewelry holding company is Gomel Kristall. The holding company will be comprised of Kristall, Beljuvelirtorg and Belgran.

    The provisions of the decree envisaging simplified taxation, movement of financial and fixed assets, development of the singled trading network have been adopted to consolidate the efforts of the participants of the holding company for development of jewelry production, sales of the products (including abroad) and addressing the issues of import-substitution.

    The jewelry holding company will help optimize the supplies of jewelry of the Belarusian manufacture to the retail trading network, enhance the efficiency of the economic activity via the unified technical, price and marketing policies.