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Economy minister: Belarus is open for Uzbekistan investment projects

Yuri Chebotar. An archive photo

MINSK, 28 August (BelTA) — Belarus creates favorable conditions for foreign investors and is open for promising projects of Uzbekistan business communities, Belarusian Economy Minister Yuri Chebotar said at a meeting of the parliamentary cooperation group the Council of the Republic of the National Assembly of Belarus and the Senate of the Oliy Majlis of Uzbekistan, BelTA has learned from the press service of the Economy Ministry.

Yuri Chebotar noted that Belarus-Uzbekistan trade grew 2.4 times in five years. The minister emphasized that investment between the countries is also increasing. "In 2023, Uzbekistan FDI in Belarus' economy increased by over 1.5 times over 2022," the press service noted.

Belarus seeks to create favorable conditions for investment. The updated law on investments offers new forms of promoting investment projects, a package of benefits, preferences and other forms of support. Companies that aim to implement high-tech projects can take advantage of the benefits and preferences offered to Great Stone industrial park residents. Moreover, free economic zones are successfully functioning in Belarus. Greenfield industrial parks with favorable conditions for setting up new production facilities are being created.

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