Why should you invest in Belarus?
Today’s Belarus is a country open to foreign investments and offers favorable business conditions.
The many benefits for investors include:
- strategic geographical location
- direct access to ЕЕU markets (Belarus, Russia, Kazakhstan, Armenia, Kyrgyzstan)
- a well-developed infrastructure in Belarus: transport, logistics and communications
- progressive investment legislation in Belarus
- guarantees of investors rights and investment protection in Belarus
- an attractive investment climate and favorable taxation policies
- government support for investors in the form of guarantees, benefits and preferences
- privatisation opportunities
- 6 free economic zones
- highly skilled workforce
- good quality life
The Foreign Investment Advisory Council under the Council of Ministers of the Republic of Belarus operates in the country, which:
- develops proposals to improve investment regulations
- participates in the examination of regulatory and legal acts, regulating relations, connected with activities of commercial organizations with foreign investments
- has the right to make proposals in Republican bodies of state administration to consider the repeal or the modification of regulatory and legal acts, restricting investors’ rights
In 2019 foreign investors poured $10 billion into the real sector of the Belarusian economy (except for banks). The main investors were partners from Russia, the United Kingdom, Cyprus, Poland, Austria, Ukraine, Lithuania, China, Germany, and the Netherlands.
Investment projects in Belarus
All the sectors of the Belarus economy are open to foreign investments, except the production of weapons, narcotics and toxic substances.
Foreign investors may set up companies in Belarus with any amount of foreign investments in any legal form, as well as their branches and representative offices. Government-guaranteed preferences and privileges promote mutually beneficial cooperation. Special legal regimes are available to investors in free economic zones, small and medium-sized towns, rural areas, the Hi-tech Park, etc.
Priority areas and sectors for foreign direct investments in Belarus are:
- pharmaceutical industry
- biotechnology industry
- nanotechnologies and nanomaterials
- high technologies in the industry
- new materials
- petrochemical and chemical industries
- mechanical engineering industry and production of machines and equipment
- transport and transportation infrastructure
- civil engineering
- production of construction materials
- food industry
- information and communication technologies
Are there any agencies that can help me invest in Belarus?
Yes. The National Agency of Investment and Privatization was established by the Government specifically to help attract foreign investment into Belarus.
Foreign investors, willing to run a business in Belarus, can request assistance from the National Agency of Investment and Privatization assistance. The services are free of charge for foreign investors:
- organisation of a fact-finding trip to Belarus, including visa formalities
- receipt of the information required about the country's investment opportunities
- selection of investment objects
- collection and analysis of information about a certain investment object
- organisation of the meetings required to make an investment decision
- resolution of the issues arising during implementation of an investment project
- post-project support
There are also a number of other ministries, agencies and organisations that can help.
How about economics in Belarus? Are the banks in Belarus reliable?
Belarusian banks offer a wide range of services. Special attention is turned to lending to people, investment projects, housing construction and assistance of the agricultural industry.
As of 1 January 2020, the banking sector of the Republic of Belarus included 24 operating banks. Seven systemically important banks hold around 87% of the capital, namely: ASB Belarusbank, Belagroprombank, Belgazprombank, BPS-Sberbank, Priorbank, Belvnesheconombank (Bank BelVEB), and Belinvestbank.
Founded in 1991, the National Bank of the Republic of Belarus is the major part of the country’s banking system. It is based on the Constitution of the Republic of Belarus, the Banking Code, etc. Its management bodies are the Board of Directors (its chairman and members are appointed by the President of Belarus) and the Council of Directors.
The National Bank represents the country in the international organizations on the issues under its competence, has a right to participate in the activity of the international banking funds and associations, open representative offices in other countries.
Commercial banks in Belarus operate with a degree of autonomy, and many foreign banks are also represented in the country.
Belarus is a member of several key international organisations:
- International Monetary Fund (IMF)
- World Bank
- European Bank of Reconstruction and Development (EBRD)