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Opinions & Interviews

25 Feb 2019

Government unveils strategies to support business growth in Belarus in 2019

Government unveils strategies to support business growth in Belarus in 2019

MINSK, 25 February (BelTA) – Belarus First Deputy Prime Minister Alexander Turchin outlined the major areas of interaction with the business community in Belarus in 2019 in an interview with the Belarus 1 TV channel, BelTA has learned.

“Today the government and business are mostly discussing property relations: land, real estate. Last year we met with business associations, set up a working group at the State Property Committee to update relevant laws. First and foremost, we seek to create equal conditions for organizations of all forms of ownership in respect of rent and redemption of property,” Alexander Turchin said.

The next important matter, which many are concerned with, is the social security fund. According to Alexander Turchin, the government has issued a relevant instruction and the working group at the Labor and Social Security Ministry will be working during the year to draw up proposals on ways to streamline the fund.

The work to replace criminal responsibility with administrative one for economic offences will be continued. Much was already done last year. The work in this area will continue this year as well.

When asked about the drafting of documents on licensing and administrative procedures, Alexander Turchin noted that they are in a high degree of readiness. “There is some optimism that these two documents will see the light of the day in Q1 this year,” Alexander Turchin noted.

The government official also touched upon additional measures to encourage manufacturers to set up compact high-efficiency facilities in the regions with a difficult economic situation. “In principle, the state has already done enough to stimulate the development of such facilities. In my opinion, we still can take some additional steps. Construction of a new production facility means big capital investment. One of the ideas is to build premises at the expense of the state in the most struggling regions and then lease them to fledgling business, i.e the state will undertake capital investment, will offer more preferential terms to attract business into these regions,” Alexander Turchin noted.

As an example, Alexander Turchin cited Lekpharm company which employs 350 people and pays the average salary of Br2,000. “Enterprises in Belarus are absolutely able to offer such salaries. At the government level we need to think about creating the conditions for youth in such regions. These can be preferential allotment of lands without an auction, for example, or soft housing loans. Thus the economy will get a greater long-term effect when compared to some auction earnings. People will work, invest in the GDP,” he said. Alexander Turchin also noted that the Business Promotion Council will convene for a meeting on 27 February to discuss the measures to add impetus to the development of regions with a difficult economic situation.

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