In the face of sanctions, import substitution gives an impetus to innovative development of own production by enterprises affiliated with the Industry Ministry, Deputy Industry Minister Aleksei Kozlov said commenting on the president's Address to the Belarusian People and the National Assembly.

The president of Belarus called import substitution and increase in innovative production the most important tasks and a matter of national security. “Undoubtedly, in the current conditions, the implementation of import substitution projects is vital for maintaining our sovereignty. We need to work consistently to ensure economic self-sufficiency. I would like to note that the organizations of the Industry Ministry are working persistently on import substitution,” stressed Aleksei Kozlov.

The efforts are bearing fruit. In 2022, the innovative products accounted for 42.6% of the export of the companies affiliated with the Industry Ministry. In January-February this figure increased to 43.6%. In 2022, the Industry Ministry produced $4.6 billion worth of import-substituting products, the task for 2023 is about $5 billion, the deputy minister informed.

According to him, BelAZ has entered a period of great opportunities. The challenges prompted the company to work harder, to explore new markets, to develop innovative solutions for its haul trucks. Thanks to the well-coordinated work of the company's structural divisions, several innovative projects have been implemented at once. In general, innovative products accounted for 61.7% of the company's export in 2022. In January - February the figure reached 70%.

The existing competencies of domestic machine-tool enterprises came in handy after the sanctions were imposed. The work is carried out in line with the state program “Machine industry and engineering technologies”, the subprogram “Machine tools and instruments”.

Assisted by Russian partners, StankoGomel has completed an ambitious project to substitute the import of sophisticated component parts. This work will allow penetrating foreign markets and securing a foothold there, as well as increasing the share of exports 2-2.5 times, Aleksei Kozlov emphasized.

“Thus, the import substitution and innovation policy is an important part of the effort to boost domestic production, reduce dependence on foreign manufacturers. Companies that manufacture innovative products do not only reduce imports saving foreign currency, but also enter foreign markets with competitive goods. This helps us wean ourselves off of imports and develop immunity to sanctions,” the deputy minister added.