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27 March 2020, 14:22

Belarus government to consider hotel construction preferences for investors

MINSK, 27 March (BelTA) – The government will consider the possibility of granting preferences to investors for the sake of hotel construction. The possibility is mentioned by the action plan on improving the country's investment climate. The document has been approved by First Deputy Prime Minister of Belarus Dmitry Krutoi, BelTA learned from the Economy Ministry website.

One of the points the plan stipulates is to consider the possibility of granting preferences to potential investors in the sphere of hospitality industry. The Economy Ministry, the oblast administrations, and the Minsk city administration will work out the relevant proposals for consideration of the Council of Ministers.

The authorities will also look into creating territories with a special legal regime similarly to that of the tourism and recreation park Augustow Canal. Giving preferences to individual territories on par with those available to companies residing in free economic zones is another option.

The government will consider letting agricultural lands or making them available via concession in order to attract private investments into the development of agricultural production. The Economy Ministry, the State Property Committee, and the oblast administrations will have to submit the relevant proposals to the Council of Ministers by the end of 2020.

Apart from that, in Q2 2020 the Council of Ministers is expected to receive a list of priority investment proposals on creating new or modernizing existing enterprises in the sphere of agriculture and processing industry with assistance of foreign capital and technologies.

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