The Investment Code, which purpose is to encourage investment activities and protection of investors’ rightsin Belarus is a fundamental document that specifies general conditions of investment activities in Belarus.

Any investors, in the course of their investment activities (in particular, aimed at investment project implementation), are entitled to the governmental supportn the form of centralized investment resources or guarantees granted by the Belarusian Government. Moreover, the investment agreement, may be signed with any investor when implementing the projects which are of importance for our country. Such agreement establishes additional legal guarantees of the Republic of Belarus for the period of the agreement validity.

Together with such support, any foreign investors are granted a number of governmental guarantees: the proprietary right and other proprietary interests, as well as interests legally acquired. And above all, equal non-discriminative protection of investors’ rights and lawful interests is ensured.

According to the Belarusian legislation, the investors may independently carry out any actions arising from possession, use and disposal of any objects and outcomes of their investment activities, including disposal of any received profit, in particular, reinvest the same in the territory of Belarus or freely transfer overseas (after payment of all taxes and any other mandatory payments).

The fact that any investments may not be nationalized or confiscated without compensation is of no small importance. Such processes may be possible only subject to prompt and full compensation for both the value of such investment property and any other caused damages.

The Investment Code also stipulates for he investors’ right to appeal in legal form against any actions (inaction) of the governmental bodies and their acts that violate the investors’ rights and/or inflict losses upon them.

Any additional guarantees o the foreign investments are granted within bilateral agreements between the Republic of Belarus and other countries. By today 52 agreements on double taxation avoidance, have been signed, in particular, with Russia, Hungary, Czechia, Belgium, Austria, the Netherlands, Egypt, Iran. 59 agreements on assistance in making and protection of investments, have been signed, in particular, with Italy, Denmark, Spain, USA, Canada.

The Republic of Belarus is also a member of certain multilateral treaties. The Convention for Settlement of Investment Disputes between the States and Citizens of any Foreign States, dated March 18 1965, has been applied to the Republic since 1992, as well as the Convention for Establishing a Multilateral Investment Guarantee Agency dated October 11, 1985.

With a view to creating favourable investment environment and free capital flow within the territory of the Common Free Market Zone (CFMZ) member-states a draft agreement on investment activities and free market flow in the territory of CFMZ member-states has been elaborated by today.

A draft agreement on encouragement and mutual defense of investments in the Eurasian Economic Community (EurAsEC) member-states has been signed by EurAsEC member-states. Accordingly, the Belarusian legislation provides for adequate guarantee of secure foreign investments in the national economy.