Meeting with Chairman of the Board of OAO Amkodor Alexander Shakutin

    Investments made by bona fide private companies will be safe in Belarus. Belarus President Aleksandr Lukashenko made the statement on 8 December as he heard out a report from Alexander Shakutin, Chairman of the Board of OAO Amkodor, the managing company of the holding company Amkodor.

    “One can work in Belarus. There is no need to hide money and withdraw it somewhere. Make investments, they are yours, nobody will take them from you,” stressed the head of state.

    Aleksandr Lukashenko said he believes that Alexander Shakutin is an example of business being done honestly. “We once agreed that everything that Shakutin and his team will earn will stay in the country, that he will never pull out money to offshores or somewhere else but will instead invest it in the Belarusian economy,” said the President. The head of state pointed out that Alexander Shakutin was implementing a number of projects that the country needs and makes world-class products. Aleksandr Lukashenko stressed that he will always support businessmen like that, who benefit the state.

    The President was informed about Amkodor’s fulfillment of all the previous instructions given by the head of state. According to Alexander Shakutin, the instructions, which are being implemented, are doing so ahead of schedule. In particular, he mentioned the establishment of a hydraulic engineering holding company and the substitution of the import of hydraulic machines in Belarus, the creation of new machines, the operation of the new facilities that had been merged with the holding company. In his words, about 15 projects are being successfully implemented.

    The head of state authorized the timeline and completion phases for the new projects that the group of companies will implement. Alexander Shakutin remarked that they were going to accomplish about ten absolutely different projects. In particular, there are plans to set up an agricultural holding company that will have over 15,000ha of land and a total of 15,000 head of cattle. The holding company will process its own products. A dairy factory able to process 300 tonnes of milk per day will be built with this in mind. Another project is the creation of a holding company that will offer recreation and treatment both to Belarusian citizens and foreign ones. The holding company will comprise five assets, which are now owned by OAO Amkodor but operate separately for now. Plans have been made to build several new facilities, in particular, a sanatorium for 240 people and a hotel for 150 people. Alexander Shakutin remarked that a new project for a tourism company with its own hunting enterprise will be presented soon.