Prime minister explains new business terms, preferences Belarus about to offer to investors

After Belarus President Aleksandr Lukashenko hosted a conference with senior members of the Council of Ministers on 22 June, Prime Minister of Belarus Roman Golovchenko explained what innovations are supposed to be introduced by the new corresponding bill, BelTA has learned. A bill on facilitating and stimulating the realization of investment projects was submitted for consideration of the head of state. The document is supposed to replace Ordinance No.10, which represented a breakthrough back in the day and served as the legal foundation for this sphere for nearly 15 years. “The ordinance on investments was one of the most advanced and progressive pieces of legislation in our region definitely if not the world.

And it produced a tangible effect from the point of bringing investors and setting up new manufacturing facilities. Unfortunately, it is impossible to patent an ordinance. This is why many neighbors of ours started using the Belarusian know-hows the ordinance stipulated.

Certainly, after a certain period of time we need to consider what other tools we use in order to keep investments coming,” the prime minister explained. Both international practice and the experience of neighboring countries were taken into account in the course of the bill's development. “It seems to me the government has managed to find the anchors that will allow bringing new investors to Belarus,” Roman Golovchenko said.

At the same time bringing just any kind of investors to Belarus is not the idea. The country gets plenty of investments, the prime minister stressed. The head of state pointed it out during the government conference.