In addition to the members of Coordinating Committee, the representatives of the World Bank, the resident adviser of the National Agency of Investment and Privatization Dr. Ona Raynite-Bodard and the representatives of the leading company of the consortium of financial consultant — FLLC “Ernst & Yang” also participated in the meeting. Minister of the economy of the Republic of Belarus N. Snopkov headed the Committee.
According to the agenda deputy director of the National Agency of Investment and Privatization Dmitry Rudchenko reported on output of work for the last 6 months of 2012. He also informed the participants of the completion of works on selection of the financial consultant for preparation for sale and search for strategic investor for the enterprises in the framework of Pool №3 (OJSC “Minsk Margarine plant”, OJSC “Konfa”), thus, the consortium of FLLC “Ernst & Yang”, JLLC “Ernst & Young Legal Services”, Law Group “Argument” employed as financial consultant.
Managing Partner in Belarus of FLLC “Ernst & Yang” Pavel Laschenko announced that the financial consultant team has already started working.
During the meeting a set of issues connected with the rendering of services by the financial consultant was discussed by the interested parties. It was agreed to form the evaluation commission on selection of strategic investor, including adoption the privatization strategy, prequalification criteria for investors etc.
Country Sector Coordinator for Private & Financial Sector Development in Ukraine, Belarus and Moldova Mr. Alexandr Pankov announced that the World Bank is deeply interested in successful implementation of the project. He stated that implementation of the pilot project let to demonstrate a positive effect of privatization according to the World Bank standards. A. Pankov also noticed that realization of the project on the strict transparency basis helps to exclude improper complaints in the future.
The Minister of Economy Nikolai Snopkov declared that the cooperation with the World Bank within the framework of such project plays very important role for the Republic of Belarus as it helps to collect a valuable international experience and apply it to increase the well being of people.
For reference:
The Coordinating Committee was formed by the Order of the Minister of Economy of 22 June 2012 No. 72.
The main goals:
- Promotion of cooperation between Agency and interested state bodies during the privatization project implementation;
- Making proposals in the respect of current and future events organizing by the Agency for the purpose of effective realization of the project;
- Discussion of the specific questions originated during implementation process.