Business news

2 Apr 2021

Opinion: Efficiency of Belarusian economy relies on human capital development

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MINSK, 2 April (BelTA) - The efficiency of the Belarusian economy directly depends on the development of human capital, Chairman of the House of Representatives of the National Assembly Vladimir Andreichenko said at the opening of the fifth session of the lower chamber of Belarus’ parliament of the seventh convocation on 2 April, BelTA has learned.

“The efficiency of the Belarusian economy directly depends on the development of human capital. While drafting a new Education Code, we should focus on the close ties between education, science and industry, on the ways to unleash the creative potential of an individual, without which a knowledge-based economy is impossible in principle. The research base of the higher school should generate new ideas, which will help our manufacturers produce competitive innovative products with high added value. We will discuss all these areas with representatives of educational institutions, employers, business associations during the parliamentary hearings scheduled for June,” said Vladimir Andreichenko.

According to him, it is important for the MPs to work proactively, constantly assessing the compliance of the discussed documents with the objectives of the development program for 2021-2025, with the primary focus on the economic sector. “One of the most fundamental positions of this block for us is the improvement of the business climate. The innovations introduced in the legislation on investments deserve special attention. They stipulate stronger protection of investors' rights in cases of nationalization or requisition of property and unfavorable changes in tax legislation. They should be seriously worked out with the stakeholders in order to come to a balanced decision. In general, the draft is positive in nature and its adoption will strengthen the position of the country in the negotiation process on accession to the WTO,” said the speaker.

The draft law on self-regulatory organizations envisages serious measures to enhance the status and role of business associations. Giving them the right to independently determine the standards and requirements for carrying out professional activities will not only reduce the degree of state regulation of industries, but also strengthen the responsibility of business to the state and society. “Plans are also in place to introduce a draft law on resolving the problem of insolvency. Our task is to protect the rights of creditors to recover debts, to enable enterprises that are now in a difficult economic situation, to continue operations, thereby preserving labor collectives and competence. This is a fundamental requirement of the head of state,” Vladimir Andreichenko stressed.

There are many other issues on the agenda of the session, including tourism, road traffic, transportation, and social support for the population. “All of them are undoubtedly significant and will attract the attention of the public. This requires us to work as quickly as possible to give the legislation the dynamics and social orientation, which were outlined by the president and the participants of the 6th Belarusian People's Congress,” Vladimir Andreichenko concluded.



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