Business news

Belarus 69th in WB ease of doing business index

MINSK, 20 April (BelTA) – In the World Bank’s ease of doing business index 2012 Belarus climbed to the 69th place from the 91st a year ago, Vladimir Karyagin, Chairman of the Minsk Capital Association of Entrepreneurs and Employers, told BelTA.

The leader of the union of entrepreneurs presented the media an analytical report “Business Climate in Belarus and Worldwide at early 2012” prepared by the developers of the Belarus National Business Platform.

According to the authors of the report, the country’s leadership has recently taken sound measures to improve the business climate. Among them were streamlining property transfer procedures, abolition of a number of taxes (including turnover and sales taxes), simplified procedures of paying income taxes and VAT, introduction of an e-tax payment system, protection of investors’ rights.

The strengths of Belarus’ business climate is registering property, starting a business and enforcing contracts.

The authors of the report believe that the national foreign trade legislation needs to be polished. Customs procedures should be streamlined. The public purchasing mechanism should be more transparent.

The central idea of the report lies in the importance of developing financial institutes and instruments in the national currency. The country needs to boost entrepreneurship and encourage business activities in a bid to secure economic growth.

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