Business news

MINSK, 21 December (BelTA) - Ordinance No.7 on the promotion of entrepreneurship will promote the services sector development in Belarus, Chairman of the Belarusian Union of Entrepreneurs Alexander Kalinin said during an online conference hosted by the Belarusian TV and Radio Company, BelTA has learned.

“Ordinance No.7 will give a boost to the services sector and, first of all, to consumer services. I think this business will be growing most rapidly,” Alexander Kalinin said.

In his words, Ordinance No.7 will also help convenience stores to stay afloat and competitive despite the rapid development of retail chains. “We assume that the simplification of business rules will help convenience stores to survive. We expect that fewer small shops will close down and that they will start looking for their niches on the market,” he said.

Alexander Kalinin pointed out that Ordinance No. 7 relaxes the doing business terms for retail networks as well. “However, the primary focus of the document is on small and medium-sized enterprises and creating the enabling environment for them,” he added.

Belarus President Alexander Lukashenko signed Ordinance No.7 “On entrepreneurship development” on 23 November. It is the key document in the package of regulations designed to improve the country’s business climate. The document is supposed to give the necessary impetus to the development of business initiative, encourage the business activity of citizens, and improve the country’s investment climate as a whole.