World Bank: Belarus has improved investment climate

World Bank: Belarus has improved investment climate

Eight documents on the liberalization of business conditions have already been signed in Belarus, said November 2 Belarus' first deputy prime minister Vasily Matyushevsky during Kastryčnicky Ekanamičny Forum (October Economic Forum).

Belarus is now preparing 10 documents that will drastically improve the business climate of the former Soviet republic. They will reduce costs of starting private business and subsequent administration. A broad public discussion will be held after the adoption of the entire package of documents liberalizing the economy.

Vasily Matyushevsky, First Deputy Prime Minister of the Republic of Belarus:
Eight documents out of 10 have already been signed .In the near future two more documents will be signed: one is on digitalization of Belarus' economy, on the High Tech Park, is almost ready. I hope the head of state will convene a meeting and discuss it in a broad format.

Matyushevsky also said Belarus does continue the dialogue with the IMF. The main obstacle to a new loan program is different views on the pace of reforms. He added that the dialogue with the IMF is needed primarily to confirm "that we are moving in the right direction and there are no threats for investors."

The position of Belarus in the Doing Business rating is also solid: the country is now 38th instead of last year's 40th.

Satu Kahkonen, World Bank Regional Director for Belarus, Moldova and Ukraine:
Belarus has taken a number of steps in the past few years to improve the investment environment. This also contributed to the higher position in the World Bank's Doing Business survey. Belarus came to 38th place. This is a significant achievement.

You have improved the conditions for the registration of companies, the creation of new enterprises and reduced the burden associated with regulatory requirements.

Kastryčnicky Ekanamičny Forum has long been an authoritative platform for the exchange of views of scientists, business representatives, and experts. It discusses important issues of Belarus' development and improvement of its investment attractiveness.