MINSK, 26 November (BelTA) - Import substitution will among top economic priorities for Belarus in the next five years, President of Belarus Alexander Lukashenko said as he visited the Minsk Free Economic Zone.
According to the head of state, a shining example of an effective import substitution project is the Belarusian-Swedish joint venture Bahco Bisov which is a resident company of the Minsk Free Economic Zone. It was registered in December 2006. The founders are the Swedish Bahco Bisov Svenska AB (98%) and the Belarusian foreign company Bahco Instruments (2%).
The joint venture is implementing an investment project to establish a plant for the production of bimetal band saws in the Minsk Free Economic Zone. Its construction was started in autumn 2008. The first launch-up complex was completed January 2010. It includes administrative and industrial buildings. The second phase of the construction will be completed no later than 2012.
Bahco Bisov possesses unique technology and equipment for the production of bimetal band saw blades, which have no analogues in the CIS countries. Due to the high quality, the products enjoy great demand and exported to more 130 countries. Bahco Bisov is a high-tech, innovative and export-oriented joint venture.
As the President was briefed, despite the fact that the project was launched right in the midst of the global economic crisis, there were no delays in the investment project.
Alexander Lukashenko praised the performance of Bahco Bisov of the Minsk Free Economic Zone.
The head of state also got familiar with the operation of AluminTechno and Alutex Inc. companies.
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