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7 Jul 2020

Lukashenko talks about incentives for big business in Belarus

Lukashenko talks about incentives for big business in Belarus
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MINSK, 7 July (BelTA) – Belarus President Aleksandr Lukashenko talked about on what terms the government is ready to cooperate with big business in order to accomplish various goals as he met with top officials and executives of the city of Minsk on 7 July, BelTA has learned.

The head of state noted that a large number of investors from various countries would like to start up a business in Belarus. However, all of them ask for major tax incentives and various kinds of preferences. “Long story short, they are unwilling to pay taxes. Why would we need such enterprises today then? We should set up our own enterprises and line them up. They should pay taxes,” Aleksandr Lukashenko stressed.

He pointed out that public sector salaries primarily depend on tax revenues. “This is why it is necessary to more cautiously work with foreign investors today. We have to support our own as best as we can. And we will support our own businessmen,” Aleksandr Lukashenko stated.

However, state support will be granted on certain terms. First, the private business has to invest its own resources in the relevant projects. Second, the business specialization needs to be in demand in the country. “You should invest your own resources. If you want to do it and if you suggest something sensible and we need it, we will cooperate with you,” the head of state said. “But it does not mean we are not going to set up new enterprises. We are setting them up. But it is very complicated and expensive.”

Aleksandr Lukashenko referred to the Hi-Tech Park as an example. The park had to evolve from scratch. “And only I know how much it cost. It is not an accomplishment of the person, who is now running about, claiming he created it (he was this close to going to prison in his time). It is an accomplishment of IT industry professionals,” the president remarked.

In particular, the last ordinance, which was signed to support this kind of business, had been prepared upon proposals of IT industry businessmen. “They brought me the papers. I signed them without reading. Why did I have to read them? Whether we were going to have it or not was the question. The IT industry businessmen did a good job preparing those documents. And today they work thanks to those decisions. This is why nobody should try to exaggerate his or her own accomplishments. It was the IT industry professionals that did it. I am grateful to them for playing fair. And I constantly support them,” Aleksandr Lukashenko said.

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