What to expect from Decree No.7?

What to expect from Decree No.7?

High time for changes in the business sector. The Decree “On Entrepreneurship Development” has come into force from February 26, 2018. The control of the government over organizations has weakened and from now it will be easier to set up a business. Therefore, the responsibility of entrepreneurs before the society will increase for their work.

Dmitry Matusevich, Deputy Economy Minister of the Republic of Belarus:
The effect we are expecting is economic, the increase of small and medium businesses up to 40% by 2020. In the future, we would like to get half of the gross value added by 2030. The working places created within Decree No. 7 will allow to not only take workers from the current labor market, but to transfer the employees from larger organizations in order to increase competition and salaries.

To open a business today it is enough to make a request to the Executive Committee.

Vladimir Karyagin, chairman of the Republican Entrepreneurship Confederation:
There are les requirements, which mean more trust to business. Business and the government will have to cooperate more closely.

Alexander Shvets, chairman of the Republican  Public Association "Belarusian Scientific and Industrial Association":
Business liberalization is taking place in different directions. One of the most important directions is technical regulation, concerning sanitary norms in building. Another important issue is cooperation with controlling bodies. I suppose that in 3-6 months’ time, there’ll be some law-enforcement practice and we will see the real efficiency of the decree.

The business community remarks that it will take a year to perfect the decree’s mechanisms. The strategy of entrepreneurship development is being developed at the same time. The plan for the near future is for the small and medium businesses to occupy up to 40% of the GDP.