E-Malt.com News article: Belarus: Vice Premier orders investigation of Heineken’s loss-making operations

Belarus’ Vice Premier Mikhail Rusyi instructed the Mogilev Oblast authorities to look into the reasons for the loss-making operation of the Heineken business in Bobruisk and to submit a report within a week. The Vice Premier took part in a meeting of the Mogilev Oblast Executive Committee to review the economic performance of the region in 2013, BelTA reported on February 13.

The Vice Premier said he was bewildered why such a big famous brewing company has been operating in the red in Belarus for several years already. “According to economic laws, such enterprises are either closed down or sold to other more successful companies. If this does not happen, it means Heineken has some other sources of income,” said Mikhail Rusyi.

“We need to look into this matter and sort everything out over the next week,” said Mikhail Rusyi. “After all, if the company does not earn a profit, it means it does not pay corresponding taxes to the budget. This is not good, especially for such a well-known brand as Heineken.”

For his part, the Chairman of the Mogilev Oblast Executive Committee Piotr Rudnik suggested setting out a target for all regional businesses and organizations regarding the return on sales, which as he thinks must be not less than 10-15%.


14 February, 2014