Business news

MOGILEV, 5 December (BelTA) – The Entrepreneurship Development Ordinance promotes business initiative, Director General of the Mogilevliftmash company, member of the Council of the Republic of Belarus’ National Assembly Boris Kovalevsky told BelTA.

In his words, the document will encourage people to start their own business and help them understand that they make a remarkable contribution to the country’s social and economic development. Business forms a competitive environment, boosts the production of consumer goods, expands the service industry, and brings additional stability to the economy.

“The head of state and the government make a lot of effort to improve the business climate in Belarus. This is why the adoption of the ordinance meets the needs of today. The time has come to give a new impetus to business development, promote business initiative, and thus ensure self-employment for the population,” Boris Kovalevsky said.

He pointed out that the document was adopted in time. Plenty of analysis has been carried out to take into account the requests and concerns of business and the public. The important thing is that the procedure for starting a business has been relaxed to the greatest extent possible. The ordinance envisages a notification procedure for starting a business in the most popular fields of economic activity. “Many administrative barriers have been removed for business. The business environment has become more favorable and open, which will attract more investors to the country. This means new competitive goods and services, and high-paying jobs, which eventually will promote economic growth and improve the living conditions,” Boris Kovalevsky summarized.

Belarus President Alexander Lukashenko signed Ordinance No.7 “On entrepreneurship development” on 23 November. It is the key document in the package of regulations designed to improve the country’s business climate. The document is supposed to give the necessary impetus to the development of business initiative, encourage the business activity of citizens, and improve the country’s investment climate as a whole.