MOGILEV, 28 June (BelTA) – Belarus will continue the policy of encouraging private investments, will continue constantly improving the legislation in order to improve the investment climate. Belarusian Deputy Economy Minister Yelena Perminova made the relevant statement during the plenary session of the 11th international investment forum Mill of Success on 28 June, BelTA has learned.
According to the deputy economy minister, in the last few years business terms in free economic zones were improved, legislation on public private partnership was developed, the head of state signed key pieces of legislation to improve the business climate and develop the IT sphere, a number of barriers were lifted in various spheres of economy, the list of technical requirements for business venues was massively reduced. Taxes were also reduced for companies that reinvest profits in the development of their enterprises.
Belarus' investment legislation corresponds to the world's best practices. It guarantees basic and equal rights to any investors. In these conditions major investors have demonstrated good performance, for instance, VMG Industry, Kronospan, Omsk Carbon Mogilev, and other ones in Mogilev Oblast. “Nevertheless, time waits for no one and we intend to continue working to improve legislation, find new points of economic growth in order to raise the GDP up to at least $100 billion by 2020,” the deputy economy minister noted. “This work will proceed in the spheres of investment, civil engineering, land relations, state property, corporate administration, and migration policy. Matters concerning successful and effective realization of investment projects require further simplification.”
Yelena Perminova encouraged all participants of the forum to get involved in the work the Economy Ministry does. In particular, a new strategy to raise foreign direct investments is in development. The draft document has already been published on the website of the National Agency of Investment and Privatization.
The same website now offers a draft investor roadmap, which contains a lot of ideas and proposals on encouraging investment activities from various regions. Mogilev Oblast has published 64 investment projects and over 100 investment ideas on the website. “We also intend to come up with a new format of the Foreign Investment Advisory Council. We intend to invite to join the platform not only the investors, who already actively work in Belarus, but representatives of global players, who can share their experience of improving an investment climate,” she said.
The investment forum Mill of Success has gathered together guests from over 20 foreign countries. They have an opportunity to visit an exhibition of the region's investment and economic potential, participate in the work of panel sessions and the regional forum Mogilev Oblast – A Territory of Sustainable Development. Foreign guests will be able to visit enterprises and social facilities on 29 June in addition to participating in festivities dedicated to the Mogilev City Day.
The forum has been organized by the Mogilev Oblast administration and OAO Mogilev Region Development Agency.
