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MINSK, 12 February (BelTA) – Minsk Tractor Works (MTZ trademark) will
make a monetary contribution to the authorized capital of a private
company Belarus-Mekong that is being set up in Cambodia. The decision
was formalized by Resolution No. 91 of the Council of Ministers as of 7
February 2013, BelTA learnt from the press service of the Belarusian
government.
Upon the suggestion of the Industry Ministry of Belarus, the Belarusian
company will transfer 32 million Cambodian riels (about $8,000) to the
authorized capital of the joint venture. The new company will assemble
tractors and will be located in Phnom Penh.
This will be the first tractor assembly factory in the ASEAN region.
Belarus’ Industry Minister Dmitry Katerinich said earlier that partners
in Cambodia offered unprecedented terms for Belarus - full exemption
from duties and taxes. The assembly factory is expected to start
operating at the end of 2013. The assembled tractors will be sold in all
the countries of the ASEAN region.
According to Minsk Tractor Works, some 116 tractors were exported to
Cambodia in 2012. Another 400 tractors will be delivered there in 2013.
Minsk Tractor Works was founded in 1946. Now it is affiliated with the
Industry Ministry. MTZ produces more than 60 models and modifications of
tractors and machines in over 100 versions and configurations for all
climatic and operational conditions. On the whole, MTZ has 22 assembly
plants abroad including in Venezuela, Egypt, Ethiopia, Algeria, China,
and Serbia. In 2012 the company manufactured over 60,000 tractors.
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MINSK, 12 February (BelTA) – Minsk Tractor Works (MTZ trademark) will
make a monetary contribution to the authorized capital of a private
company Belarus-Mekong that is being set up in Cambodia. The decision
was formalized by Resolution No. 91 of the Council of Ministers as of 7
February 2013, BelTA learnt from the press service of the Belarusian
government.
Upon the suggestion of the Industry Ministry of Belarus, the Belarusian
company will transfer 32 million Cambodian riels (about $8,000) to the
authorized capital of the joint venture. The new company will assemble
tractors and will be located in Phnom Penh.
This will be the first tractor assembly factory in the ASEAN region.
Belarus’ Industry Minister Dmitry Katerinich said earlier that partners
in Cambodia offered unprecedented terms for Belarus - full exemption
from duties and taxes. The assembly factory is expected to start
operating at the end of 2013. The assembled tractors will be sold in all
the countries of the ASEAN region.
According to Minsk Tractor Works, some 116 tractors were exported to
Cambodia in 2012. Another 400 tractors will be delivered there in 2013.
Minsk Tractor Works was founded in 1946. Now it is affiliated with the
Industry Ministry. MTZ produces more than 60 models and modifications of
tractors and machines in over 100 versions and configurations for all
climatic and operational conditions. On the whole, MTZ has 22 assembly
plants abroad including in Venezuela, Egypt, Ethiopia, Algeria, China,
and Serbia. In 2012 the company manufactured over 60,000 tractors.
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