Rapid growth of net direct foreign investments into Belarusian communications industry

Author: Mikhail Doroshevich

19/08/2004

According to the Ministry of Statistics and Analysis of Belarus the volume of net direct foreign investments (intake surplus over withdrawal) into Belarusian communications industry during January-July 2004 has increased by 55% in comparison with the same period of the year of 2003 and totals now USD 11,7m. That is 17,1% of general amount of direct foreign investments in Belarusian economy. Thus communications industry holds the second place after trade business and catering (44,3% of direct investments).

Total volume of telecommunications companies export and import in June- July 2004 have increased by 4, 1 % and 4% correspondingly as compared with the same period of the year of 2003 and total services value has increased by 140,5%.

Aggregate profit of telecommunications companies totaled BYR 480 bn (EUR 180m) and net profit - BYR 95,9 bn (EUR 36m) in seven months of the year of 2004 which is 3,5 times more than in the same period of the previous year.

Production and services profitability has increased from 10 to 19,5 per cent and sales profitability has increased from 7,4 to 13,1 per cent.

Useful links:

The Ministry of Statistics and Analysis

Themes

Belarus Brief