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Belarus eager to raise at least $1.6bn in net FDI in 2019
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MINSK, 10 June (BelTA) – Belarus intends to attract at least $1.6 billion in net foreign direct investments (FDI) in 2019, BelTA learned from Belarusian Deputy Economy Minister Yelena Perminova on 10 June.
The official said: “Results of the year 2018 were very positive for us: the net foreign direct investments were close to $1.5 billion. The performance target was hit. This year we have to raise at least $1.6 billion in net FDI because this kind of investments represents a priority in Belarus’ investment policy taking into account non-debt assets.”
The diversification of investment streams continues. “This year’s flow from the European Union has exceeded the flow from the Russian Federation, however, taking into account our strategic friendship, neighborliness, and the lack of a language barrier Russia had always been in the lead,” the deputy economy minister noted. As for China, the country remains one of the top three donors of foreign direct investments and one of the top three trade and economic partners.
A strategy to attract foreign direct investments to Belarus in the period till 2035 has been drafted. The document provides for doubling net FDI by 2025 to $3 billion. “We have to double the GDP by 2025 – up to $100 billion. The main drivers to achieve this result will be export, investments, and the development of entrepreneurship – small and medium businesses. Our economy needs net FDI to the tune of $3 billion. This is why the strategy for attracting FDI till 2035 includes mechanisms used by the entire world: work to improve investment legislation, work to facilitate administrative procedures for the private sector, further digitization of all processes in order to rule out a subjective approach to dealing with tasks. Everything should be simple: send a package of documents by email or online, get the necessary approval, and start working,” Yelena Perminova stressed.
There are also plans for working hard to attract foreign investments and promote Belarus’ investment potential abroad, including via events like Belarusian Economy Days, investment forums, conferences, meetings with private sector representatives. New promotion tools will be sought as well.
Apart from that, there are plans to improve the performance of the National Agency of Investment and Privatization. The agency has already switched to a new format of work based on the project office principle: every specialist takes care of a specific investment project or a potential investor.
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