DECREE ON CANCELLATION OF MANDATORY SALES OF CURRENCY

The decree on the abolition of the mandatory sale of foreign currency will be an incentive for developing export-oriented enterprises. This opinion was expressed by the director of JV "Manuli Hydraulicx Manufacturing Bel" (Orsha) Andrey Ivanuk, commenting on the document.

According to him, the elimination of any deterrent or inconvenient factors contributes to improving the efficiency of activities. In this case, the signed decree will favorably affect the work of all producers interested in exporting. "But first and foremost young emerging companies, which have a small share of export sales, for them operations with foreign exchange earnings significantly affect the financial activities and overall development of the company due to a lack of these resources." The ability to freely dispose of foreign exchange earnings will become a serious incentive in work ", - says Andrey Ivanyuk.

The products of "Manuli Hydraulicx Manufacturing Bel" are import-substituting. This is the only enterprise in Belarus producing high-pressure hoses. Currently produces about 60 designs of sleeves. In the first half of the year, the share of exports of the Orsha enterprise was 87%. "Exporters like us have more foreign exchange resources and, accordingly, opportunities for maneuvers." In addition, as a resident of the FEZ, our company enjoys preferential treatment for the mandatory sale of foreign currency. "However, all decisions aimed at liberalizing and stimulating business activity in the country, raise the spirit and mood of people engaged in business, "- added the head of the enterprise.

With a view to liberalizing foreign exchange relations and stimulating business activity, the President of Belarus signed a decree on "Abolishing Mandatory Sale of Foreign Currency." This tool was used during the formation of the Belarusian market and contributed to the formation of a foreign exchange offer on the currency exchange, but it was also a deterrent, as investors perceived it as a sign of administrative regulation and restrictions. The cancellation of compulsory sale of a part of the foreign currency earnings by business entities will help to increase the competitiveness of Belarusian exporters, will become an essential factor in improving the conditions for doing business in Belarus.

Read completely: http://www.belta.by/opinions/view/ukaz-ob-otmene-objazatelnoj-prodazhi-valjuty-stanet-stimulom-dlja-razvivajuschihsja-predprijatij-ekspert-6368/