Investments should be made in areas where Belarus already has competencies - Lukashenko

Investments should be made primarily in those areas where Belarus already has competencies. This was stated by Belarusian leader Alexander Lukashenko on November 4, while approving the appointment of Ilya Ikan to the post of Chairman of the Belarusian State Concern for Oil and Chemistry, BELTA reports.

"Investments, investments - we often look for where to invest funds. We need to invest in those schools, in those competencies that we have today," Alexander Lukashenko emphasized.

He cited the example of the enterprise OJSC Polotsk-Steklovolokno, which was headed by Ilya Ikan: "I am sure that you know better than anyone what other fiber we need to produce in order to engage in import substitution and successfully enter the market."

"If we process oil, we know which direction to go in, what products we should receive. We need to invest in what we know how to do. We have a lot of such areas in both the civil and military industries," the President noted.

The head of state also touched on the topic of investments at the regional "Dazhynki" in Mosty. Alexander Lukashenko drew attention to the fact that the Grodno region is the only region in the country where dry milk formulas for children are produced.

"We are currently trying to implement many, many projects, "One District, One Project". We invest huge amounts of money and sometimes grab onto projects where we have no competence. We grab onto what we do not know how to do. And we do not know whether we will be able to sell what we produce or not," the President suggested. "There is a great demand for sawn timber, timber all over the world. What we dreamed of as I said: the time will come - and we will sell it, and how we will sell it," Alexander Lukashenko noted.