The President of Belarus had instructed the government until September 1, 2016 to analyze and organize investment laws and remove bureaucratic barriers in front of foreign money. Alyaksandr Lukashenka said Tuesday, addressing the nation and Parliament.
“The main incentive for investment is clear and understandable laws that keep all. If our economy there are laws that hinder the process of attracting investments, it is necessary to react quickly and flexibly to adapt to changing situations,” he said.
The principle of 2016, he said, should be the maximum attraction of foreign direct investment, concentration of investment in fixed assets, advanced technology, information systems, robotics.
“This year to restore economic growth need to attract at least $ 1.5 billion of foreign direct investment on a net basis, that will help to replace missing internal resources external sources,” he said.
Lukashenka reminded that in the world one of the biggest investors is China, and Belarus opened a credit line of 8 billion dollars, and in developing, it can be increased.
“But the most amazing thing you even could not have imagined at the dawn of his parliamentary activities that we have in Belarus, top officials of the government, governors can’t create normal portfolio of projects under this investment. But it’s a different story,” warned Lukashenko.
He stressed that the great investment potential in the cooperation with international financial organizations. “It will open doors for many large investors. Special attention requires the development of cooperation with the International monetary Fund. The IMF program is not a panacea, but an indicator of openness of our economy”, — said the head of state, adding that talking with the IMF we should “protect their interests, arguing, telling, demanding to understand us in this process.”
He reminded about the resources of the world Bank in the amount of $ 1 billion, adding that 600 million is still not involved because of the slowness of government agencies. “The end of the year these issues should be resolved. I require in the shortest possible time to eliminate all legislative obstacles to the involvement in the economy funds of international financial organizations”, — he stressed.
Lukashenka instructed the government as soon as possible to complete the simplification of the procedure for conclusion of international treaties. “Efficiently must be well-organized system of crediting of investment projects. All commercial loans businesses should take themselves, based on their business plans without state guarantees”, — Lukashenko has told, having reminded about recently signed a decree allowing enterprises to raise external financing through Depositary receipts. “The end of the year we are waiting for concrete proposals,” — concluded Lukashenko.
