Belarus created favorable legal conditions for the investors. To intensify the investment activity and improve the investment climate, the following actions are to be implemented in Belarus:

• o signing international treaties and agreements on preventing double taxation and on security of investments;
• o setting up a guarantee credit fund for small business entities providing bank-granted credit guarantees and securities for them;
• o building up an investment potential of the banking sector by attracting the external capital and household resources; and
• o more fully using capacities of free economic zones opening up inner territories for foreign investors and businessmen.

To efficiently use the investments, a list of investment projects of the Republic of Belarus for a period up to 2010 was drawn up. The state would lay special emphasis on implementation of investment projects to modernize production facilities with science-intensive and energy-conservation high technologies, refurbish and develop export-oriented and import-substituting industries in the petrochemical, microelectronic, agricultural machinery, medical, forestry, woodworking and pulp and paper sectors and also in the sphere of modern transport communications, telecommunication, tourism and construction services.

To implement costly investment projects, new investment forms are applied: concessions, project and venture financing and leasing. The investor may enter an investment agreement providing additional guarantees to the investor in terms of economic and other conditions of project implementation in the Belarusian market.

The new Land Code, adopted this year has become a prerequisite for improvement the land issue. In particular, the Code set up a foundation for the development of real estate market by providing the possibility to acquire ownership of land, use it as collateral for bank loans.

In 2009 further improvement of the legislative framework is going on. Recently The President's decree "On additional conditions of investment projects realization on the territory of Belarus” dated 6-th August , 2009 number 10 was adopted, as well as the Presidential Edict " On granting to individuals and legal entities the authority to represent the interests of the Republic of Belarus on investment attraction into the Republic of Belarus" dated August 6, 2009 № 413. The decree provides for a three-level system of investment contracts. At the first level the investment agreement is based on the decision of the executive committee or a profile ministry. In this case, the investment project is realized within the specific branch of industry or the administrative-territorial unit, and within the competence of a state body or executive committee. At the second level the investment agreement is based on the decision of the Government, unless the investment treaty does not provide the investor privileges and preferences, except provided by legislative acts, by this Decree and other decisions of the President, including privatization cases. At the third level the investment agreement is based on the decision of the Government in coordination with the President of the Republic of Belarus with provision to investor privileges and preferences, not established by legislative acts, including privatization cases.
Regardless of the level of the investment agreement, this decree grants additional preferences for the realization of investment projects. In particular, it provides:
- The right to construct investment objects in parallel with the development, of subsequent phases of construction;
- Simplification of obtaining land, without auction, at no charge for making a contract, and with a fixed land rent;
- Exemption from the compensation of losses of agricultural and forestry production caused by the withdrawal of land;
- Exemption from import customs duties and value added tax when importing equipment and spare parts for the objects of the investment project into the territory of Belarus.;
- Exemption from taxes to local budgets.
Edict number 413 has introduced new institutional framework for investment activity - investment agents. Status of the investment agent can obtain both legal entities and private persons capable of conducting the preparation of investment projects for implementation, and negotiate with potential investors. The introduction of this institution shows once again that Belarus is open for investors and is ready for investment cooperation.