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22 Nov 2019

PM talks about possibilities of investing in Belarus

PM talks about possibilities of investing in Belarus

LONDON, 22 November (BelTA) – A high-tech sector, IT and a services sector are the most promising areas to attract investment in the Belarusian economy, Belarus’ Prime Minister Sergei Rumas said at the EBRD Eastern Partnership (EaP) Investment Summit in London on 22 November, BelTA has learned.  

“The high technology sector is in the center of attention of the Belarusian government today. We have developed special jurisdiction – China-Belarus industrial park Great Stone where we have been developing and supporting high-tech industry, new materials, nano and biotechnologies, pharmaceutical industry. The park offers super preferences for investors. They pertain to both taxation and land acquisition,” Sergei Rumas stressed.

In addition, a favorable administrative regime has been set for park residents. Registration of enterprises is fast and follows the one-stop shop principle. “Today, this park shows tremendous growth, with investors coming to us from almost all over the world. We expect the future of Belarus is in this direction,” the prime minister added.

According to the premier, the IT sector is another area for investment, as Belarus offers a special working regime for residents of the Hi-Tech Park, as well as elements of English law. “Today the Hi-Tech Park is growing by 30-40% per year. We expect that the Hi-Tech Park exports will bring $2 billion to the country in 2019 alone,” said Sergei Rumas.

The government also welcomes investment in the services sector. Thanks to Belarus’ convenient geographical location, it is profitable to invest in the transport sector. Investors can be attracted by the hotel and restaurant business, educational services and medical tourism.

“Today the services sector demonstrates an out-pacing growth in comparison with the main economy. We support the arrival of new investors in every possible way and believe that this sector also has a great future,” Sergei Rumas said.

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