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Belarus plans to launch new mechanisms to improve investment climate

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MINSK, 5 March (BelTA) - Belarus plans to launch new mechanisms to improve the investment climate, Belarus’ First Deputy Economy Minister Yuri Chebotar told the media ahead of the ministerial meeting in Minsk on 5 Match, BelTA has learned.

"We are working on the regulations to improve the investment climate. Drafting of the amendments to the investment law and Decree No.10 has entered the home stretch. For example, we are planning such a mechanism as a special investment agreement which will provide additional guarantees to investors, including the guarantee of a state procurement order for part of products," Yuri Chebotar said.

The first deputy minister noted that other changes also relate to reducing the financial burden during the implementation of an investment project, including in terms of income and property taxes. Another proposal is the launch a stabilization reservation, i.e. the extension of the taxation conditions for five years.

"These mechanisms should be launched this year. Our task is to create conditions at least as good as the ones in the neighboring countries," Yuri Chebotar stressed.

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