Belarus has entered into an investment agreement with a private company, "SME-Oil" on the construction of the Belarusian-Russian "Verein" pharmaceutical company in Minsk.
It is assumed that on the basis of the new enterprise will produce analogues of foreign drugs.
The corresponding decree of the Council of Ministers adopted a decree of the President of number 549 of 16 November 2009a.
According to the decree, the company "Verein", which is owned by Russian businessman Vladimir Bryntsalov, transferred pharmaceutical company "Dyalek" (Minsk), followed by construction on the territory of the new plant.
In this case, a "Dyaleka" completely write off all debts to the budget for the transfer of "Verein" as a property complex. Belarus will receive as a result of a 25% stake plus one share "Verein".
Minsk City Executive Committee and Executive Committee recommended to release the "Verein" from the target of the charges in the profit generated by the transfer of the property complex.
First of intent to establish Bryntsalova pharmaceutical production in Belarus spoke after his meeting with Alexander Lukashenko in April 2008. "Belarus is interested in the company to" Verein "developed their production in the country" — then said Alexander Lukashenko. The volume of investment is expected to reach 100-120 million dollars, with half of the funds to the project had Russian businessman to invest.
Under the agreements the company "Verein" has received tax breaks, but at the end of October 2008 the project was shelved. The reason given was named the global financial crisis.
Some analysts attributed the refusal to participate in the project Bryntsalova that while Minsk could not guarantee it as a strategic investor favorable conditions of work on the Belarusian market. Decree number 549 was issued by President until a year later, in November 2009.