Business news

MINSK, 19 April (BelTA) – Belarus invites Czech companies to invest in the Hi-Tech Park and the Great Stone Industrial Park, Belarus’ Deputy Minister of Foreign Affairs Yevgeny Shestakov said at the Belarusian-Czech business forum in Minsk on 19 April, BelTA has learned.

Belarus offers a number of preferential regimes for foreign investors, including preferences of its six free economic zones, the Hi-Tech Park and the Great Stone Industrial Park. “The park is open to all investors who are ready to meet the conditions of bringing in a certain amount of investment and developing manufacturing projects in the areas outlined as the preferential ones. These are, first of all, science-intensive areas, high technologies, biotechnologies: everything that meets the requirements, including those of green economy and everything that are in demand on our market, the Eurasian Economic Union and the countries we are developing economic and trade cooperation,” said Yevgeny Shestakov.

The small and medium-sized business of the Czech Republic can be interested in the regime of so-called small and medium-sized towns of Belarus (and these are almost 80% of the country’s administrative units) which apply a zero rate on profit tax within seven years.

According to Yevgeny Shestakov, Belarus attaches great attention to creating a favorable environment for attracting foreign investment, streamlining business processes. “Today, three days are needed to open a company. The same period is required to register property. The time needed to process documents on the export (import) of goods does not make up more than four hours. The list of the licensable types of activity includes 36 positions. Moreover, the government has big plans for further simplification of administrative procedures that regulate economic activities,” the deputy minister said.

Belarus is ready to provide the best conditions for the implementation of Czech technological projects on its territory on terms of direct investing, said Yevgeny Shestakov. An important area to intensify bilateral cooperation is to set up in Belarus joint productions of import-substituting and export-oriented products that can be in demand on the markets of the Eurasian Economic Union.

About 50 companies took part in the Belarusian-Czech business forum and a business matchmaking session with representatives of Czech companies. The events were organized by the Minsk office of the Belarusian Chamber of Commerce an Industry and the Chamber of Commerce and Industry for the CIS countries (Czech Republic). The forum in Minsk featured mainly companies specializing in the areas of construction, production of building materials, consulting, and export promotion services.

The Czech Republic is an important partner for Belarus in the European region and makes it into Belarus’ top 20 trading partners. In 2014-2016 the mutual trade reduced more than two times to $277 million. The decline was mainly due to a decrease in the Czech imports to Belarus (by almost $300 million).