According to Chairman of Minsk City Executive Committee, modernization worth spending on those enterprises where it is economically feasible. It should be clear how much money will need to be spent on repayment of loans and whether the company will cope with this load. "Any manager must calculate the course of modernization. What is necessary to invest its own funds and how much credit, know the plan yield and its value," - he said.
Semyon Shapiro generally welcomed the ongoing modernization in the region. However, he pointed out that some companies can not cope with the credit load. As a result, a significant portion of the profits to repay interest on the loan, and not for production development. In addition, some have already purchased sets of equipment have not been installed on the modernized plants. And such cases are now engaged in the State Control Committee.
Modernized enterprises should focus on the production of mainly export-oriented products to earn foreign currency to repay loans to foreign banks. "In general, we see a good effect of modernization. The problems usually arise where its conduct was not economically feasible," - he concluded.