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The National Investment and Privatisation Agency State Institution was established by Decree of the President of the Republic of Belarus No. 273 of 25 May 2010.

Pursuant to the Decree, the Agency was established as a specialised organisation of complex assistance to foreign investors.

Decree of the President No. 173 of 22 April 2011 detailed tasks and functions of the Agency.

The Agency was transformed into a state institution subordinate to the Ministry of Economy. It is entrusted with separate powers of privatisation bodies concerning the objects which list is approved by the Government upon the President's approval.

From that moment a new stage in the Agency's operation began.

Order of the Ministry of Economy No. 69 of 13 June 2011 approved the Agency's charter.

On 21 September 2011 the Order of the Ministry of Economy entrusted the Agency with implementation of a project of pilot privatisation with the support of the World Bank. Since December 2011 the Agency has used the financial resources of the grant provided by the Ministry of Finance of Austria to support the privatisation process in Belarus with the technical assistance of the World Bank.

At present work is carried out to attract strategic investors to three OJSCs – Baranovichi Reinforced Concrete Products Plant,  Medplast and Minsk Margarine Plant.