Business news

MINSK, 23 July (BelTA) – The Belarusian-European economic forum will take place in Luxembourg on 27 October, BelTA learned from the National Agency of Investment and Privatization.

“The major goal of the forum is to create an efficient and results-based multi-level platform for establishing sustainable cooperation of Belarusian financial institutions and economic entities with European partners and advancing strong segments of the Belarusian economy (IT, logistics) among western business,” representatives of the agency said.

The event is aimed at attracting western investments to develop new industrial facilities in Belarus, studying the Luxembourg practices of developing the financial system and developing a country as an internationally-recognized financial and investment center. The forum will also focus on informing potential customers about the ability of Belarusian IT companies to produce software products. Participants are set to discuss priority infrastructure projects, which implementation will result in new competitive channels for delivering goods from/to Western Europe via Belarus, including as part of the Belt and Road initiative.

“The choice of the venue for the Belarusian-European economic forum can be explained by a recognized authority of Luxembourg in the area of international finances,” the agency said. Luxembourg is Europe’s leading and world’s second biggest investment center behind the United States. The country with the population of slightly more than 500,000 has nearly 3,900 investment centers and 143 banks. The overall capital of the Luxembourg financial system exceeds €740 billion. Another strategic area of Luxembourg development is IT technologies. The country claims to be a leader in the third industrial revolution based on digital technologies. A convenient geog