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PM: Belarusian government will continue to support entrepreneurship

Economy 13.11.2017 | 11:21
Andrei Kobyakov
Andrei Kobyakov

MINSK, 13 November (BelTA) - The Belarusian government will continue to support entrepreneurship, Belarus' Prime Minister Andrei Kobyakov said at the opening of the 7th International Entrepreneurship Forum which is held as part of the Global Entrepreneurship Week in Belarus, BelTA has learned.

“The government will continue to support the development of entrepreneurship, implement new forms and mechanisms of interaction between the state and business,” Andrei Kobyakov said. According to him, support will be provided to the private sector initiatives to promote the ideas of entrepreneurship through the open dialogue, business and authorities.

“The role of entrepreneurship in the national economy, creation of new jobs and sustainable social development is high. This segment of the economy can respond quickly to changing market conditions, generate innovative ideas and embody them into real projects, occupy new niches in the markets for goods and services, and expand its presence in foreign markets,” Andrei Kobyakov said.

According to him, the government is extremely interested in the development of small and medium-sized businesses. “This sector employs a third of the total employed in the economy. This is already quite a lot. But the potential for further development and growth is huge, and we intend to use it,” Andrei Kobyakov noted.

The head of government stressed that the absolute priority of the state is to increase interest in entrepreneurship, create opportunities for the development of small and medium-sized companies, promote points economic growth and competitiveness of the country. To this end, Belarus has created various preferential regimes: from stimulating high-tech and export-oriented companies to integrated development regions of the country.

“We actively encourage the creation of companies in small towns and rural areas. The government is constantly working to improve the business environment. Economic policy instruments are aimed at maintaining fair competition, stimulating new jobs in the production of goods and services by attracting, first of all, private investment,” the prime minister noted.

Andrei Kobyakov recalled that a set of measures to promote business is being currently implemented in Belarus. “This year we are making another step towards maximum liberalization of business. In close cooperation with the business community we prepared a package of ten drafts of normative legal acts. Eight of them have already been signed by the head of state; two documents are under consideration. We have seriously reformed control and oversight activities and shifted the focus towards prevention. We have introduced the institute of tax consultants. Entrepreneurs have got an opportunity to get professional advice from a specialist who is responsible for his recommendations,” he said.

The prime minister informed that the volume of mandatory sanitary and environmental requirements, technical standards is being radically reduced. The conditions for starting up a business are begin simplified, access for entrepreneurs to financial resources is getting easier. The institute of small and medium business, namely the Development Bank, was set up on the initiative of the government. “Through this channel, enterprising businessmen can get long-term loans on favorable terms for investment projects,” Andrei Kobyakov noted.

This year's Global Entrepreneurship Week in Belarus is held on 13-19 November. Its focus is on startups. The Global Entrepreneurship Week began with the seventh international entrepreneurship forum focusing on Synergy. Startups and Corporations. New innovative business strategies, financial instruments for business support and so on are discussed during the forum. T

The Global Entrepreneurship Week is held in over 160 countries across the globe and helps 20 million people implement their potential through participating in 95,000 events. Belarus joined the Global Entrepreneurship Week in 2011 and became the 137th participating state of the world's largest entrepreneurship initiative.

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