The National Agency of Investment and Privatization is responsible for the organization of the second Belarusian forum “Broadening the horizons: investment, finance, development” will be held on September 28-29, 2017.
“We see the need in creation of the regular specialized platform that will become the practical tool for strategy development on improvement of the investment climate of Belarus and now we are working on the organization of the second financial and investment forum in Minsk,” said director of NAIP Natallia Nikandrova.
The roadmap became the result of the first forum that became one of the most important events of the economic life of the country and invited more than 650 participants from 39 countries of the world. The list of recommendations formed according to the results of the discussions within the business program was passed to the Government; the list included suggestions from private businesses, foreign investors, scientific communities on the creation of additional favorable conditions for attraction and implementation of investment, and also on overcoming the existing barriers in the investment sphere.
In particular, experts noted the need to legally register guarantees of investor's rights with unfavorable changes in the legislation, consider the possibility of returning of a stabilization clause to the legislation – the principle that protects a foreign investor from tightening of the national legislation and implying the preservation of the legal regime in case of unfavorable changes in the legislation, introduce normative maintenance of the stabilization clause in the preparation of draft normative legal acts or amendments thereto.
In particular, experts noted the necessity to legislatively describe guarantees of the investor’s rights in case of adverse changes of the legislation, to consider the possibility of a stabilization reservation returning to legislation – the principle protecting a foreign investor from national legislation toughening and implying preserving a legal regime in case of adverse change of legislation, to enter normative maintenance of a stabilization reservation by preparation of regulatory legal acts projects or changes in them.
Also experts consider advisable formation of the Association of the Belarusian Business in Europe, which activities will be directed to upholding and protection of interests of Belarusian producers in case of entry and export into the EU countries market and also to search of the European partners for creating productions together with Belarusian ones.
In addition, as proposals to improve the situation with the protection of property rights, experts called for the inadmissibility of undirected confiscation or other seizure of property, auditing of the results of privatization, therewith excluding the application of these measures in any form, including indirect mechanisms.
The roadmap includes nine sections among which the recommendation on the improvement of the FDI attraction process, effectiveness increase in the state property management system, improvement of the situation with the property rights protection and legal regulation of non-profit organizations activities, development of the competition law and also recommendations on the improvement of incoming tourism with regard to its investment appeal, suggestions on increasing the education system effectiveness and regulation of the labor market and migratory processes in Belarus.
The roadmap can be found here