Belarus preparing draft decree to unify investment regulations

The Government is working on a draft decree to grant equal rights to investors coming to Belarus, First Deputy Prime Minister Vladimir Semashko told an annual meeting of the Confederation of Manufacturers and Entrepreneurs on 8 July.

"We are developing a draft decree that envisages fundamental and unified rules regulating investment activity in Belarus," Vladimir Semashko said.

He admitted that sometimes some investors are given advantages over others. It pertains to duty-free imports of equipment and parts, allocation of land plots. "We will systemize the regulations and introduce unified rules," the First Vice Premier said.

In his words, the abovementioned draft decree will become another step to liberalize the economy and improve the investment climate in Belarus.

Minsk Tractor Works has started working on a new investment project estimated at .2 billion, First Deputy Prime Minister Vladimir Semashko said.

MTZ is now completing a technical upgrade project worth 0 million. Due to this project the company expanded its lineup of tractors up to 70 models. The enterprise manufactures tractors having a capacity of 320 horse power; there are samples of 420 horse power machines and track-type tractors. According to Vladimir Semashko, such a strong company should emerge even stronger after the crisis is over.

He also informed about a project to produce MAZ buses. The production facilities might be located near Minsk.

Despite the crisis industrial enterprises do not suspend the current investment projects and are thinking of new ones. Seven assembly productions are to be set up abroad.

At present Belarusian companies are exploring new markets and seeking to preserve the existing market in Russia, Vladimir Semashko underlined.



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