Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Friday, January 18, 2019

Belarus' Lukashenko supports plan to build retail complex

Belarusian Presidenrt Alexander Lukashenko backed plans by the chairman of Tabak Invest's board to develop a retail chain in the country during a meeting on Tuesday.

The two men held a meeting on Tuesday, BelTA reports.

"I have received your proposals regarding the construction of an entire system of enterprises in Belarus to service our population," Lukashenko said, according to BelTA. "I don't see any major problems with what you are suggesting. I think that normal. Not small and not large but average retail enterprises. One can even say compact ones, should bed enveloped in Belarus particularly in view of competition considerations. I am rather ready to agree to it."

Tabak Invest Chairman Pavel Topuzidis is planning to build as many as 130 shopping centers of various sizes around the country, BelTA reports.

Lukashenko also said he would like Belarusian businessmen to invest in their country.

"We could use more investments and investments from citizens of Belarus that--the people who live here, earn money and try to expand their business," Lukashenko said, according to BelTA. "I welcome it and you know it."

At the same time, the president said he wanted to make sure that major retail outlets did not destroy local convenient stores.