BELARUS NEWS AND ANALYSIS

DATE:

15/10/2008

Belarus continues work to improve investment climate - Econ Ministry

MINSK. Oct 15 (Interfax) - Belarus plans to continue implementing measures to improve the investment climate, Deputy Economic Minister Pyotr Zhabko said at a press conference in Minsk on Wednesday.

"We plan to work on improving the tax system, reducing the tax burden and eliminating administrative barriers," Zhabko said.

Changing the status of the National Investment Agency is also aimed at improving the investment climate. "It's a big step forward for Belarus," he said. Under the draft document reviewed by the government on October 14, the National Investment Agency will become the one-stop agency for investors.

Other draft documents on improving the investment climate "include 48 points on which work is proceeding and all are being overseen by the government," he said.

Documents have already been drafted on regulating venture funds and securities markets, said Sergei Trofimovich, the head of the Economics Ministry's main investment department.

In the past year Belarus has carried out a host of economic reforms aimed at liberalizing investor operations.

President Alexander Lukashenko has set the goal of moving Belarus into the top 30 in the World Bank's rankings of countries with the best investment climates.

Foreign direct investment in Belarus doubled in 2007 to $1.5 billion.

Source:

http://www.interfax.com/3/436815/news.aspx

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