Developing vocabulary

Discussion

1. Discuss with your group mates:

1)Do you agree with those who say that firm and consistent position of the Belarusian Government will provide excellent investment opportunities and help to build strong strategic policy and mutually beneficial relations with investors as well as contribute greatly to the positive image of the Republic of Belarus as a reliable and long-term business and investment partner?

2) Are the following features of the Belarusian economy attractive

for foreign investors?

- Low competition in many industries.

- Possibility to become a pioneer.

- Privatization opportunities: 70% of Belarusian enterprises are directly or indirectly controlled by the state.

- Highly favourable geographical position of the country.

- Highly developed scientific and industrial potential.

- Highly-skilled and relatively cheap workforce.

3) Can you name some of the disadvantages of national economy in the current position?

1. Pair the words on the left with the words on the right to make noun combinations and translate them.

assembly deficit

potash turnover

trade hike

export salts

price plant

household consumption

income products

consumer items

currency growth

budget exchange

2. Fill in the gaps with the given nouns.

Talks, Machines, revenues, reports, holding, value, shares, producers, Automobile, output, multi-industry, shareholder, assets, engineering, proposal, progress, corporation, vehicles.

MAZ is one of the largest ___ of trucks in the Commonwealth of Independent States (CIS) and controls about 35% of Russia's heavy truck market. Russian ___, or Russian Automobiles, is the automotive arm of Russian ___ holding Basic Element and a major ___ in Russianautomobile maker GAZ Group. Basic Element is an integrated industrial ___ created in 1997. Consolidated ___ exceeded US$ 18 billion in 2006; market ___ of assets totals US$ 23 billion. ОАО Russian Machines is Russia's largest auto manufacturing group, incorporating industrial and engineering ___ of Basic Element. Last year’s overall ___ exceeded 180,000 ___. OAORussian Machines incorporates GAZ Group, RM Systems, Magna International, Aviacor, and the Russian Corporation of Transport ___.

In accordance with the ___, MAZ is supposedto contribute 100% of its ___, and Russian Machines will contribute its 100% shareholding in Ural. The two producers will respectively hold 40% and 35% in the new ___, with an investment bank taking the remaining 25% stake.

According to earlier___, Russian truck producer KAMAZ is also seeking to buy the Minsk ___ Plant, known by its Russian acronym MAZ.

___ between the Belarusian government and Russian Machines are in ___ over incorporation of Belarus' MAZ automaker.

3. Complete the following text with the given adjectives:

Legal, full, offshore, exhaustive, foreign (2 times), high, individual, state, technical.

___TEHNOLOGY PARK

Belarusian ___ entities (including those with 100% ___ investment) and ___ entrepreneurs, whose activities are concerned with the analysis, development and software support of information systems and data processing, can be members of HT Park in Belarus. The regime of HT Park provides ___ exemption from almost all of taxes and duties, including profit tax, VAT and real estate tax. What is more, the ___ equipment imported by the residents of HT Park into the customs territory of the Republic of Belarus is exempt from customs duties and VAT. The ___ list of such inventories is determined by the ___ authorities and includes computer, copying and facsimile devices. The income paid to a ___ entity originating from HT Park resident’s sources can be subject to withholding tax at a rate not exceeding 5%. The residents of the Park do not pay ___ duty on the dividends paid to their shareholders.

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