OREANDA-NEWS. On March 12, 2009 This statement was made during a meeting between First Deputy Prime Minister of Belarus Vladimir Semashko and Director and Chief Executive Officer of the company David Cote in Minsk. Vladimir Semashko noted that this famous American company is well-known in Belarus too, reported the Official website www.government.by. 

‘The excellent reputation of the company proved again during the implementation of petrochemical projects in Belarus, in particular at Belarusian oil refineries. Honeywell offers top-quality technological equipment, reasonable prices and always honours its obligations which is extremely important,’ the First Deputy Prime Minister said.

‘The Belarusian side welcomes the interest of Honeywell in the expansion of its business in our country. We are ready to consider any initiatives and proposals and develop practical projects,’ he added.

According to Vladimir Semashko, there are many avenues of cooperation that can be mutually beneficial for the both sides. These projects include modernization of the petrochemical industry among others. In 2009-2010, all the projects that have been developed will be completed.

He pointed out that the Belarusian side is willing to consider the participation of the American company in the development of such industry in Belarus as motor and tractor engineering, as well as power engineering and energy saving. The experts of the company have experience of working with the National Academy of Sciences of Belarus. The joint development of new control technologies, nano-materials and IT technologies can be very promising.

The High-Tech Park established in Belarus is successfully developing. In 2008 the volume of products and services rendered by the park rose 1.8 times. The First Vice-Premier also suggested the American company participating in projects within the framework of the High-Tech Park.

This year the GDP growth rate of Belarus will gradually recover, said First Vice Premier of Belarus Vladimir Semashko as he met with top executives of the American company Honeywell.
Vladimir Semashko stated, consequences of the world crisis had affected Belarus, too. In January-February 2009 the GDP growth reached only 2.3%. “But it is a plus not a minus,” emphasised Vladimir Semashko. In his words, there are reasons to believe that this year the figure will not be lower. “All estimates, marketing researches as well as actions we are taking indicate that the year may end with even better figures,” said the First Vice Premier.

The official remarked, in the last seven years Belarus demonstrated high economic growth, with the GDP growth as high as 9.5% on the average. 2008 saw the GDP go up by 10%, while the industrial output swelled by 10.8%. Fixed-capital investments are outstripping. In 2008 the volume of investments soared by 23.1%. Despite the complicated economic situation the volume of investments rose by 23.8% in the first two months of 2009.

Vladimir Semashko emphasised all the necessary conditions are being created in Belarus for the arrival of investors. “We welcome any investors who come to Belarus with the intent of implementing their projects here”, said the First Vice Premier. Over 40 regulatory documents have been passed in Belarus lately in order to increase the investment attractiveness and improve the business environment.

Honeywell was established in the United States in 1885. At present it is diversified technology and manufacturing leader employing 130,000 people in 100 countries worldwide. About 50% of the company’s operations are located in the US.

In 2007, the turnover of Honeywell amounted to US34.6 billion. It is ranked 73rd in the list of most successful US companies. The company offers aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. The company has its offices in Russia, Ukraine and Kazakhstan. Honeywell automotive products are installed at 12 out of 13 major Russian oil refineries. The products of the company were supplied to oil refineries of Mozyr and Novopolotsk.