Business news

MINSK, 27 November (BelTA) – Companies operating in retail and public catering will be the first ones to demonstrate effects of the Entrepreneurship Development Ordinance. Belarusian Deputy Economy Minister Dmitry Matusevich made the statement on the air of the Belarus One TV channel, BelTA has learned.

Many representatives of the private sector and potential businessmen will feel more confidence thanks to the Entrepreneurship Development Ordinance. The declarative principle of business registration allows registering one’s own business within one day. The procedure used to require up to half a year in the past, noted Dmitry Matusevich. The Belarus president also signed decree No.345 to encourage retail in rural areas and consumer services. The Entrepreneurship Development Ordinance and decree No.345 mutually complement each other, the official believes. “We will see the first results in spring,” said the deputy economy minister.

Vice Chairwoman of the Minsk City Union of Entrepreneurs and Employers Lilia Koval also believes that retail and public catering will demonstrate the highest activity now. In her words, many potential business owners have been looking forward to the Entrepreneurship Development Ordinance.

Apart from that, Belarusian Deputy Antimonopoly Regulation and Trade Minister Igor Fomin expects an increase in online trade since the Entrepreneurship Development Ordinance simplifies the operation of online stores and similar trade platforms.