The round table "International legal practice of working with foreign investors and opportunities to improve the investment attractiveness of the Republic of Belarus" was held in Fanipol atCJSC Stadler Minsk.
During the event, the examples of successfulinjection of foreign investment in the economy of Belarus were discussed, as well as proposals to increase the international investment attractiveness of the country, to improve legislation in the field of foreign economic activity. The round table was attended by representatives of the Ministry of Economy, NAIP, the Ministry of Industry, the Ministry of Foreign Affairs, the State Property Committee, business circles and business entities.
Belarus is implementing a set of interrelated measures to improve the business climate, of which Decree No. 7 is the main one," said Elena Perminova, head of the main department for investment policy of the Ministry of Economics. "It aims at, among other things, a cardinal change in the mechanism of interaction between the state and business, initiative, stimulation of self-employment of the population. The result is significant. As of June 1, that is, three months after the adoption of government resolution No. 143 "On the notification procedure for the commencement of certain economic activities" 1 891 notices were received from the entities of the beginning of their activities."
She stressed that the work to improve investment legislation, improve the investment attractiveness of the country continues. "As early as 2017, a working group of the Council of Ministers with the participation of deputies of the House of Representatives and the business community formed a plan of actions to improve the investment climate in Belarus, the plan was drawn up for 2017 and 2018. We continue to work within the framework of this plan," added Elena Perminova.
Among the problems for attracting investment into the Belarusian economy, Elena Perminova named subjective discrepancies in the existing norms of the existing regulatory and legal acts, insufficient promotion of investment potential and strategic planning for the development of separate economic activities and regions. "We plan to solve this issue within the framework of developing a strategy for attracting foreign investment, where we will make an understandable message for foreign investors, which projects are most relevant for Belarus," she noted.
"The strategy is being developed on the basis of a consultative process involving heads of companies with foreign capital, local businesses and key ministries," said NAIP Deputy Director Mikhail Dashuk. It provides for the identification of economic and sectoral priorities for the development of Belarus. This will allow concentrating the general efforts of state bodies and organizations to attract FDI. In addition, it is envisaged to define in the document a set of targets based on competitive sectors for attracting investments and a clear plan of actions to achieve them. It is also planned to identify the responsible departments and organizations for each area of action. "
In Belarus, nearly 600 investment agreements have been implemented for a total of almost $ 5 billion, and 369 investment agreements are being implemented for $ 19.2 billion. Since early 2018, 30 investment agreements have been registered, including 11 with the participation of foreign investors.