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Opinions & Interviews

28 Oct 2015

Belarus has every chance to become one of world's doing business leaders

MINSK, 28 October (BelTA) - Belarus has every chance to make it into the top 30 doing business countries in the near future, Dean of the Department of Economics of the Belarusian State University, Doctor of Physico-Mathematical Sciences, Professor Mikhail Kovalev said as he commented on the results of the Doing Business 2016 report, BelTA informs.

Among 189 states under research Belarus ranked 44th. “If we continue in this direction, the President’s instructions to reach the 30th spot will be fulfilled,” said the professor. In his words, this year’s rating is “very objective” and takes into account a huge number of indices. “Belarus’ position proves that we create necessary conditions for doing business in the country,” Mikhail Kovalev added.

According to him, Belgium, a well-developed capitalistic country, placed 53rd. That means that Belarus’ result illustrates the country’s efforts in the recent years.

The expert pointed out the areas where Belarus had already made in into the top 30 countries. For example the country ranked 12th in starting a business. “Here, we boast low costs and fewer procedures necessary to start a business,” Mikhail Kovalev said. Belarus occupied 7th spot in registering property. “Every Belarusian who registered, for example, their summer house was able to make sure that the national single property register operates perfectly,” stressed the professor. He added that the country also made into the top 30 in enforcing contracts.

Mikhail Kovalev also took note of the trading across borders ranking. “Here we ranked usually low due to objective reasons. It costs pretty much to transport a container to the nearest port in Klaipeda or Ventspils. However, this year the World Bank has applied more objective calculating methods. Now it pays more attention to the number of procedures necessary to sell a product abroad or import it as well as the costs of these procedures,” the expert explains. In the result, Belarus took the 25th position this year.

According to Mikhail Kovalev, the country also placed well in the paying taxes ranking, 63rd. “It is clear that in a socially-oriented economy as Belarus taxes cannot be so small as in China or countries of the kind. Taxes are relatively high but the tax management procedure is absolutely different story,” the professor said. In his words, at the start of this five-year period Belarus was almost last in the list. The expert believes that the country can make even better progress.

At the same time Mikhail Kovalev believes that the National Bank does a lot to simplify lending procedures. “We have high interests on loans. The World Bank, however, does not take into account in its rating the level of efficiency of technical procedures in getting a loan,” the expert noted. Belarus is 109th in the getting a credit ranking.

“There is one more position where we should improve our situation. We have 89th place in getting electricity. In order to connect a new facility to a power supply one needs to perform seven procedures which take 112 days to complete. In my opinion, the Energy Ministry should work on the issue,” Mikhail Kovalev said.

Besides, he believes that additional efforts should be invested in the work of the Justice Ministry. “It is important because the interests of minoritaries, small shareholders, must be protected. It is an international practice and we need to introduce two to three amendments to the law on economic and joint-stock companies in order to take us closer to the top thirty,” the expert said.

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