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Legal framework

The process of strategic investor attraction conducted by the Agency is regulated by the following acts:

1. Decree of the President of the Republic of Belarus No. 273 dd. 25 May 2010 (in the wording of 22 April 2011) “On the Establishment of State Institution ‘National Agency of Investment and Privatization”.

According to the Decree the following authorities of the privatization body are granted to the State Institution National Agency of Investment and Privatization. These are performed in relation to the specially assigned privatization objects:

  • attraction of experts to perform privatization works pursuant to the legislative acts;
  • participation in preparing draft resolutions concerning privatization of securities (shares in the authorized fund) owned by the Republic of Belarus or its territorial units pursuant to the legislative acts;
  • making proposals about the method and sale conditions in relation to the privatization objects;
  • establishment of tender commission to sell privatization objects at auctions/tenders;
  • organization of tenders/auctions to sell privatization objects;
  • filing suits in relation to the disputes arising from privatization contracts including the suits to establish the facts and the nullity of the privatization deals and to apply the consequences of the nullity in relation to the contracts concluded by the Agency;
  • according to the decision of the President of the Republic of Belarus performance of other duties of privatization bodies in relation to specially assigned privatization objects.

2. Resolution of the Council of Ministers of the Republic of Belarus No. 1139 dd. 26 August 2011 (in the wording of 1 October 2012 No. 901). “On the Approval of the List of Privatization Objects for the ‘National Agency of Investment and Privatization” to Perform Authorities of a Privatization Body”

The list of 8 privatization objects that are specially assigned to the State institution National agency of Investment and Privatization to perform  the authorities of the privatization body is the following:

  1. Shares of Baranovichi Reinforced-Concrete Products Plant Open Joint-Stock Company;
  2. Shares of Belsantechmontazh 2 Open Joint-Stock Company;
  3. Shares of Avtomagistral Open Joint-Stock Company;
  4. Shares of Construction and Mounting Company No. 8 Open Joint-Stock Company;
  5. Shares of Belgazstroi Open Joint-Stock Company;
  6. Shares of Medplast Open Joint-Stock Company;
  7. Shares of Konfa Open Joint-Stock Company;
  8. Shares of Minsk Margarine Plant Open Joint-Stock Company.

3. The Agreement between the International Bank for Reconstruction and Development and Ministry of Economy of the Republic of Belarus. The Austrian Trust Fund № TF098603 Privatization Project dd. 22 December 2010. International Technical Assistance Project No. 2/11/000466 of April 28, 2011 “Assistance to Privatization”

This agreement provides for the selection criteria to assign enterprises for the project; approaches and methodology for attracting  strategic investors with the involvement of financial advisors; the scope of work for the financial advisors, etc.

4. Resolution of the Ministry of Economy of the Republic of Belarus № 72 dd. 22 June 2012 “On the Steering Committee for Implementation of the International Technical Assistance Project “Assistance to privatization”.

The Steering Committee headed by the Ministry of Economy comprises the representatives of the State Institution “National Agency for Investment and Privatization”, Ministry of the Architecture and Construction, the Ministry of Transport and Communications, the Ministry of Finance, Concern ‘Belgospischeprom’, Concern ‘Belneftekhim’, State Property Committee of the Republic of Belarus, Minsk Oblast Executive Committee.

Representatives of the Administration of the President and Council of Ministers visit the meetings of the Steering Committee.

The main functions of the Steering Committee are the following:

  • Making proposals in relation to the ongoing and future activities of the Agency for the effective implementation of the Project;
  • Review of the problems and restraints to the Project implementation.