Business news

MINSK, 15 September (BelTA) – There are plans to raise the status of the National Agency of Investment and Privatization (NAIP) in Belarus,Deputy Economy Minister Pavel Utyupin told BelTA.

"An interagency working group has been set up on the instructions of the prime minister to formulate proposals regarding the ways to improve the NAIP’s efficiency. One of the key proposals is to raise the agency’s status and broaden its mandate, to vest it with the right to conclude investment agreements on behalf of Belarus, to coordinate the country’s investment strategy and to assist in issues of cooperation between investors and the government bodies based on the one-stop shop principle," Pavel Utyupin said.

“Another idea is to introduce project management. We want the agency to develop new proposals and to implement them in the form of investment projects. In fact, it means the support of project implementation on a turnkey basis,” the deputy minister said.

Pavel Utyupin stated that the key performance indicators will be developed for the agency. "I stress that all the proposals have been formalized in the draft legal act and submitted to the government," he summarized.