BUSMAKER NEWS * Belarusian Machine Building: Once A Nation's Pride, Now A Burden?
In Soviet times, became a recognised brand of the country and brought economic growth. Not anymore !
-- The decline in the industry has influenced the whole country. The state's economy suffers losses not only in the machine building sector itself, but also across other industries associated with it... According to the Ministry of Finance, the Belarusian Automobile Plant, the Minsk Automobile Plant and the Minsk Tractor Plant lost $76m over a nine month period in 2014... Belarus has no choice but to abandon its focus on a shrinking Russian market. The idea of privatising these enterprises by Western company may yet emerge among Belarusian decision makers. Keeping these enterprises in the state's hands costs too much and their privatisation by China or Iran, as previous projects show, may bring frugal results... The demand in the Russian market has declined not only because of the crisis, but also due to competition. Many companies like Volvo, John Deere Rus, CAT, Komatsu, Terex have assembly plants in Russia... Additionally, Belarusian enterprises have traditional problems associated with an authoritarian economic control model. Plants often supply their equipment to state-owned enterprises for free, public managers are afraid to be proactive and cannot pay enough money for innovation... Minsk,Belarus -The Belarus Digest, by Ryhor Astapenia -27 January 2015
Labels: busmakers news Russia
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