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Strategy and Prospects of Attracting Foreign Investments
 

Attracting investments, inclusive foreign ones, is prioritized by the state. Belarus is most interested in direct investments. They are not a burden for the state debt and allow the entire potential of the foreign investor in Belarus, namely, financial, production and intellectual to be mobilized and implemented.

The tendency towards increase in the inflowing foreign capital has emerged in the recent years. During January-June 2009 The economy of the Republic of Belarus received 4230 million U.S. dollars of foreign investment, which is 27 percent higher than in January-June 2008 of them attracted foreign direct investment amounting to 2,477.5 million dollars, that exceeds 2 times the volume of prosecution for the same period last year. Other foreign investments (loans and borrowings, finance lease) received in the amount of 1,752.2 million dollars. Major investing countries were Russia (over 2 / 3 the volume of foreign investments -- 2864.6 million U.S. dollars), Switzerland, Austria, Germany and Latvia.

The largest number of foreign investments attracted in transport - 1,881.6 million (44 per cent of total inward foreign investment), Industry - 1,087.8 million (26 percent) and general commercial activities on the functioning of the market - 653 $ 5 million (15.4 percent).

Over 2 / 3 the volume of foreign investments -- 2864.6 million U.S. dollars) comes from Russia.

Nearly 3 thousand companies founded with involvement of investors from 77 countries operate in Belarus. 87 investment projects are being implemented in various sectors of economy with the foreign capital participation. Machine-building and metal-working, consumer goods, chemical and petrochemical, woodworking and also trade, communication, transport and medical sectors are most attractive for foreign investors in Belarus.

Belarus effectively cooperates with the most well-known transnational corporations. Joint ventures were set up with the German MAN Group (cars and trucks) Karl Ceiss (optical products) and also with foreign enterprises Coca-Cola Beverages Belarus, McDonalds Restaurants (soft drinks and public catering), Unomedical (disposable medical products), CHESS-Bel (petroleum products), Frezenius (medical equipment) and others.

The projects with foreign capital participation are effectively implemented at the PJSC Mogilevkhimvolokno, JPJSC Belarusian Brewing Company Syabar and in construction of the border customs terminal Kozlovichy-2.

The foreign investors may be attracted by extensive housing construction in Belarus (up to 4 mln m2 a year), reconstruction of national facilities such as sports complex Raubichy and Staiky and construction of a multi-purpose cultural and sport center Minsk-Arena.

The programs of developing most perspective types of tourism (rural, ecological, hunting, transit) are also being implemented in Belarus and a tourist infrastructure in historical cities with cultural heritage is being developed.

Implementing actions to simplify the registration procedure and property purchase, liberalize foreign trade relations, unify customs and tariff systems of Belarus and Russia and make Belarus a member of WTO would help increase the inflow of funds of private investors for implementing such projects in Belarus