Investment in Belarus

An overview of the benefits of investment in Belarus, business operation terms, organisations to support your initiatives in Belarus, etc.

Why should you invest in Belarus?

Today’s Belarus is a country open to foreign investments and offers favorable business conditions.

The many benefits for investors include:

• strategic geographical location
• direct access to ЕЕU markets (Belarus, Russia, Kazakhstan, Armenia, Kyrgyzstan)
• a well-developed infrastructure in Belarus: transport, logistics and communications
• progressive investment legislation in Belarus
• guarantees of investors rights and investment protection in Belarus
• an attractive investment climate and favorable taxation policies
• government support for investors in the form of guarantees, benefits and preferences
• privatisation opportunities
• 6 free economic zones
• highly skilled workforce
• good quality of life

The Foreign Investment Advisory Council under the Council of Ministers of the Republic of Belarus operates in the country, which:

• develops proposals to improve investment regulations
• participates in the examination of regulatory and legal acts, regulating relations, connected with activities of commercial organizations with foreign investments
• has the right to make proposals in Republican bodies of state administration to consider the repeal or the modification of regulatory and legal acts, restricting investors’ rights
  
  Belarus is the best place for your investment
  
  Read more about the benefits of investing in Belarus

In 2023, foreign investors injected $7.7 billion into Belarus’ real economy (apart from banks). The country’s primary investors include companies of Russia, Cyprus.

Investment projects in Belarus

All the sectors of the Belarus economy are open to foreign investments, except the production of weapons, narcotics and toxic substances.

Foreign investors may set up companies in Belarus with any amount of foreign investments in any legal form, as well as their branches and representative offices. Government-guaranteed preferences and privileges promote mutually beneficial cooperation. Special legal regimes are available to investors in free economic zones, small and medium-sized towns, rural areas, the Hi-tech Park, etc.

Priority  areas and sectors for foreign direct investments in Belarus are:

• pharmaceutical industry
• biotechnology industry
• nanotechnologies and nanomaterials
• high technologies in the industry
• new materials
• petrochemical and chemical industries
• mechanical engineering industry and production of machines and equipment
• transport and transportation infrastructure
• civil engineering
• production of construction materials
• agriculture
• food industry
• information and communication technologies
• tourism

A Minsk City Investment Atlas has been created in the capital of Belarus. It provides information on investment opportunities and attractive investment projects in Minsk.

Click here for more information on investment opportunities in Belarus

In 2021, foreign investors injected $8.7 billion into Belarus’ real economy (apart from banks). The country’s primary investors include companies of Russia, Ukraine, Cyprus.

Are there any agencies that can help me invest in Belarus?

Yes. The National Agency of Investment and Privatization was established by the Government specifically to help attract foreign investment into Belarus.

Foreign investors, willing to run a business in Belarus, can request assistance from the National Agency of Investment and Privatization assistance.  The services are free of charge for foreign investors:

• organisation of a fact-finding trip to Belarus, including visa formalities
• receipt of the information required about the country's investment opportunities
• selection of investment objects
• collection and analysis of information about a certain investment object
• organisation of the meetings required to make an investment decision
• resolution of the issues arising during implementation of an investment project
• post-project support

There are also a number of other ministries, agencies and organisations that can help.

More about organisations that can help you invest in Belarus

Are there any examples of successful investment projects in Belarus?

Yes. International companies in Belarus have been involved in numerous successful investment projects, contributing significant revenues and infrastructure improvements to the Belarusian economy.

Read our international investment case studies 

How about economics in Belarus? Are the banks in Belarus reliable?

Since Belarus gained independence from the Soviet Union in 1991, the country has seen steady economic growth, particularly in recent years.

Belarusian banks offer a wide range of services. Special attention is turned to lending to people, investment projects, housing construction and assistance of the agricultural industry.

As of 1 January 2024 the banking sector of the Republic of Belarus incorporated 21 banks. Five banks account for over 80% of the capital. These are:

• open joint-stock company Belarusbank (OAO ASB Belarusbank)
• open joint-stock company Belagroprombank (OAO Belagroprombank)
• open joint-stock company Priorbank (Priorbank OAO)
• closed joint-stock company Alfa-Bank (Alfa-Bank)
• open joint-stock company Sber Bank (OAO Sber Bank)

Founded in 1991, the National Bank of the Republic of Belarus is the major part of the country’s banking system. It is based on the Constitution of the Republic of Belarus, the Banking Code, etc. Its management bodies are the Board of Directors (its chairman and members are appointed by the President of Belarus) and the Council of Directors.

The National Bank represents the country in the international organizations on the issues under its competence, has a right to participate in the activity of the international banking funds and associations, open representative offices in other countries.

Commercial banks in Belarus operate with a degree of autonomy, and many foreign banks are also represented in the country.

Belarus is a member of several key international organisations:

• International Monetary Fund (IMF)
• World Bank
• European Bank of Reconstruction and Development (EBRD)
  
  Read more about the economic background in Belarus

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