EBRD may assist with the development of Belresursy's strategy

Open Joint Stock Company "Belresursy" may become the next organisation of the State Property Committee to receive advisory assistance from the European Bank for Reconstruction and Development (EBRD) in developing its joint-stock company development strategy. This was reported to a BELTA correspondent by the Chairman of the State Property Committee, Andrei Gaev.

"We are working in this direction. Because now, within a tight timeframe, we will need to develop a development strategy for the entire holding. And the EBRD is considering the possibility of providing consulting support in preparing the project," said Andrei Gaev. "What is valuable for us is that the EBRD engages companies that have experience in such work in Europe and aligns it with our realities."

The Bank provides advisory assistance in developing the management system for state-owned enterprises, including organisations of the State Property Committee, in accordance with the memorandum concluded with the Government of Belarus in 2017. An important element of this work is the implementation of corporate governance, which is a well-established mechanism for interaction between shareholders, executive and supervisory bodies, and other stakeholders in the operation of a joint-stock company.

According to Andrei Gaev, Belarus already has one successful experience of cooperation with the EBRD in applying a combined approach to strategy development – for Open Joint Stock Company "Belavtodor". One foreign company was responsible for developing its development strategy, while another aligned these processes with the management of holding structures as a whole.

"Regarding both "Belavtodor" and "Belresursy", it can be said that a pilot project is being implemented for asset management organisation, irrespective of industry affiliation," explained the head of the State Property Committee. According to him, based on the pilot project, a prototype of a "state corporation will be formed, where the management of state-owned shareholdings in diverse structures would be carried out on a professional basis."

"In our realities, purely foreign experience is not applicable: in some places, asset management funds are created, in others, a purely industry-specific approach is used, and in others, a mixed approach. We have an industry-based management model. The global goal of the project is to ensure maximum return," concluded Andrei Gaev.

The "Belresursy" holding was registered in the register of holdings in January 2014. The state trade and production association "Belresursy" - the management company of the "Belresursy" holding was transferred to the subordination of the State Property Committee in 2016. And from July 1 of this year, it was transformed into a joint-stock company. Today, the "Belresursy" holding includes 15 joint-stock companies and one republican unitary enterprise "Belspeckontrakt". The management company participates in the development and implementation of state programs for the development and improvement of wholesale trade, the creation of wholesale markets, and distribution networks abroad, as well as in the organization of the sale on a compensatory basis of released material resources of the Armed Forces, other troops, military formations and paramilitary organizations of Belarus. It performs the functions of an organizer of public procurement procedures for goods from the list determined by the Council of Ministers, and coordinates the circulation (import, wholesale trade) of goods.

News of Belarus (BELTA)