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Entrepreneurship Development Ordinance praised as huge step forward

Economy 07.12.2017 | 11:54
Vladimir Andreichenko. An archive photo
Vladimir Andreichenko. An archive photo

MINSK, 7 December (BelTA) – The adoption of Ordinance No.7 “On entrepreneurship development” is a big step forward, Speaker of the House of Representatives Vladimir Andreichenko noted at the session of the lower house of the Belarusian parliament on 7 December, BelTA informs.

The ordinance was signed by the Belarus president on 23 November and taken into consideration by the MPs on 7 December. “This is a big step forward in terms of liberalizing the economic activity, promoting the investment activity, and removing administrative barriers to the greatest extent possible,” the speaker remarked.

The results of the implementation of the document will depend on the MPs, too. There is a lot of work ahead as we will need to adopt several bills, Vladimir Andreichenko added.

This refers to the amendments to the Criminal Code, in particular. Belarus will abolish imprisonment as punishment for as many economic crimes as possible. Some economic crimes will be reduced from felonies to misdemeanors.

BelTA reported earlier that the ordinance will dramatically change the way government agencies interact with private companies. It will minimize the interference of government officials in the operation of commercial entities. It will give more leeway to private companies in how they manage their affairs while cranking up the responsibility of private companies towards the public. The minimal level of state oversight shall remain in place.

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