Business news

MINSK, 6 March (BelTA) – The National Investment and Privatization Agency is gearing up for the second Belarusian forum Expanding the Horizons: Investment, Finance, Development, which is due to take place on 28-29 September 2017, BelTA learned from the website of the agency.

“We see the need in creating a regular special platform that will make a practical instrument for working out the best strategy to improve the investment climate in Belarus, and we are currently working on the organization of the second financial and investment forum in Minsk,” Director of the National Investment and Privatization Agency Natalia Nikandrova said.

The first forum Expanding the Horizons, which became one of the most important economic events for the country after attracting more than 650 participants from 39 countries, resulted in the development of a roadmap. The list of recommendations worked out after the business program was submitted to the government. The recommendations included proposals of private business, foreign investors, and scientists to create additional favorable conditions to attract and utilize investment and remove barriers in the investment sector.

Experts emphasized the need to legalize the guarantees of the rights of the investor and consider the possibility of making the principle protecting the foreign investors against increasing legislative pressure part of the legislation once again.

Experts believe that it is worth developing the Association of Belarusian Business in Europe, which activity will be aimed at defending and protecting the interests of the Belarusian producers in their export to the EU market and also at searching for European partners to set up joint companies.

The roadmap consists of nine parts, including recommendations to improve the process of attracting FDI, enhance the efficiency of the state property management system, improve the situation with the property rights protection and the legal regulation of the activity of non-for-profit organizations, polish the competition law, recommendations to improve the situation with the inbound tourism taking into account its investment appeal, proposals to enhance the efficiency of the system to regulate the labor market and migration processes in Belarus.