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Opinions & Interviews

4 Nov 2016

International community welcomes liberalization of business processes in Belarus

International community welcomes liberalization of business processes in Belarus

MOGILEV, 4 November (BelTA) – The international community welcomes the liberalization of business processes in Belarus, Belarusian Economy Minister Vladimir Zinovsky said at the international investment forum Mill of Success in Mogilev on 4 November, BelTA has learned.

Vladimir Zinovsky noted that the effort of the government to create favorable conditions for investment in Belarus has already yielded results. The macroeconomic stabilization is the main of them. A stable and predictable economic situation provides a basis for sustainable development and creates favorable conditions for restoring economic growth. From the standpoint of economy, Belarus is attractive as a participant of important integration projects. For instance, the Eurasian Economic Union means an opportunity to get access to 180 million consumers. Besides, Belarus borders on the 450-million strong market of the European Union in the West.

Belarus is working hard to create open and favorable conditions for doing business. It has been ranked 37th out of almost 200 economies in the latest Doing Business report. The country is among the top ten leaders in terms of regulatory reforms. Technology parks, free economic zones have been set up in Belarus to promote the development of business. The companies working in rural areas and towns enjoy tax preferences. It is also possible to get certain preferences and guarantees by concluding an investment agreement with Belarus.

Vladimir Zinovsky believes that the skilled workforce is another major attraction for investors to Belarus, along with the benefits, preferences and the stable political and social situation in the country. “This is why any investor who channels money into our country today will get benefits tomorrow. The favorable business climate in Belarus has already been appreciated by such big companies as Heineken, Kronospan, Stadler and VMG Group of Companies. I am confident that today’s forum will give a new impetus to joint projects, new ideas and mutually beneficial contracts,” Vladimir Zinovsky said.

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