The National Agency of Investment and Privatization of Belarus (NAIP) intends to attract strategic investors to the enterprises to be privatized within the framework of the pilot project the agency is implementing with assistance of the World Bank, NAIP Director Natalya Nikandrova announced.
The agency has been taking care of pre-privatization of eight Belarusian enterprises with assistance of the World Bank. Another eight enterprises from the food industry, light industry, chemical industry and other spheres are supposed to be added to the list.
“It is not the standard privatization procedure commonly used in Belarus”, the NAIP Director explained. “The project is supposed to work out the approaches that will help Belarus privatize enterprises most effectively without the negative consequences witnessed in Russia and Eastern Europe”.
NAIP intends to use the best international practices as part of privatization projects.
“We would like to find owners for Belarusian enterprises, who will develop these enterprises, introduce new technologies, and create jobs”, she stressed.
The possibility of using new methods is under consideration.
“In particular, we are considering two-stage tenders to choose investors”, Natalya Nikandrova explained. “During the first stage we intend to shortlist potential strategic investors. During the second stage we would like the investors to make proposals regarding the price for the shares they are willing to buy, the terms for buying the enterprises, the investments they are willing to pour into the development of these enterprises. Then we will make the final choice”.
The NAIP Director underlined she was talking about strategic investors.
“They will work as owners of the enterprises. This is why we can use various methods to make it happen”, she explained. “In addition to the standard privatization procedure when we sell all the shares of an enterprise we can also sell 50% of the shares or issue more shares and sell them to the investor. It is also possible to set up a joint venture”. (BelTA/Business World Magazine)