Business news

MINSK, 14 November (BelTA) – Belarus is a rapidly developing country and is open to any business initiatives, Chairman of the House of Representatives of the National Assembly of Belarus Vladimir Andreichenko said opening the parliamentary hearings on the legal and practical aspects of improving the investment climate in Belarus on 14 November, BelTA has learned.

The speaker said that improving investment climate and raising more investment is one of the country's socio-economic development priorities. “Belarus is a dynamically developing European state, open to any business initiatives,” said Vladimir Andreichenko.

Belarus has significant competitive advantages. These include favorable geographical location, a well-developed transport infrastructure, a high technological level of enterprises, a relatively efficient education system, skilled workforce, comprehensive support for investment activity at the national and local levels, Vladimir Andreichenko said. “Belarus has been continuously working to create comfortable economic, legal and institutional environment for doing business, ease working conditions for business entities, create an enabling environment for IT companies. With the support of international organizations, Belarus launches large-scale infrastructure projects. The country intensifies public-private partnership mechanisms. The country offers various preferential regimes for investors, namely tax and customs privileges and other conditions for running successful business,” the speaker said.

Timely and systemic work to develop a comprehensive legislative framework aimed at improving investment climate is one of the conditions to achieve a sustainable momentum in attracting investment in the Belarusian economy, Vladimir Andreichenko said. The speaker added that the agenda of the House of Representatives includes the issues related to the reduction and optimization of administrative and criminal liability measures in the economic sector, the implementation of mechanisms to protect bona fide investors, and the improvement of corporate and investment legislation.