Business news

MINSK, 28 September (BelTA) – The Belarusian investment forum opened in Minsk on 28 September, BelTA has learned.

The number of registered participants reaches 500 people.

“Belarus is an optimal transport and logistics corridor between Europe and the CIS. We have user-friendly infrastructure, highly-qualified personnel and a well-developed industry, the agrarian and construction complexes, and a steadily developing IT sector. This is a good basis for doing business,” Belarus’ First Deputy Prime Minister Vasily Matyushevsky said at the opening of the forum.

He emphasized Belarus’ attractiveness as a member of the Eurasian Economic Union: “This is a market of almost 180 million population, with a free movement of goods, services and capital. Equally important is our neighborhood with the European Union market.”

According to Vasily Matyushevsky, Belarus’ legislation is based on the world’s best practices and guarantees the observance of the investor’s rights, equal conditions for the domestic and foreign capital, an opportunity for applying international law. There are more than 60 international investment promotion and protection agreements.

“The number of companies with the participation of the foreign capital has increased by almost 40% over the past four years, which testifies to the country’s favorable investment climate. These companies account for nearly 25% of the country’s total proceeds and exports,” said the first vice premier.

In his words, the liberalization of business processes is praised by the international community.

“The Belarusian government actively develops with international financial organizations. We have a big portfolio of projects with the World Bank, cooperate with the European Bank for Reconstruction and Development,” said Vasily Matyushevsky.

In his words, Belarus has a well-developed investment legislation that envisages different preferential regimes. This makes it possible for investors to come to small and medium-sized cities, rural areas, free economic zones, the China-Belarus industrial park Great Stone and the Hi-Tech Park. “The government constantly monitors the investment and business climate, improves it if necessary. We are working to create the most favorable conditions for the development and functioning of the business environment. In close cooperation with the business community, we have prepared an unprecedented package of documents to improve the business environment, eliminate unnecessary requirements and involve the population in active economic activities," said Vasily Matyushevsky.

The first vice premier expressed confidence that the Belarusian investment forum will help generate new ideas and will serve as an impetus to the implementation of joint projects and the signing of contracts. "Belarus is open and ready for partnership in the implementation of joint projects." Tomorrow's economy largely depends on those who are present here today," he stressed.

The event has gathered representatives of international and foreign financial institutes, private foreign investors, representatives of government bodies, national business and the expert community. Experts will discuss the strategies of attracting foreign investment in Belarus, the investment, technological and personnel potential of the country, government measures to support business and investment activities.

During panel sessions experts are expected to share information about possibilities and peculiarities of investment cooperation in information technologies, green economy and power engineering, manufacturing sector. Prospects of implementing important social projects within the framework of public private partnership will be discussed as well as advantages and preferences of working in the China-Belarus industrial park Great Stone. The establishment of an effective financial market in Belarus and the market’s integration into the global market will be high on the agenda.