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Investment Environment of the Republic of Belarus © Ministry of Economy of the Republic of Belarus 2008 A. Tur N. A. Tur N. The Deputy Minister of Economy of the Republic of Belarus 1
Selected Economic Indicators Industrial production GDP Agricultural production Capitalinvestments Export (february, 2008) 2 © Ministry of Economy of the Republic of Belarus , % January – march, 2008, %
Investments in the Capital Assets 3 © Ministry of Economy of the Republic of Belarus 2008
Structure of Foreign Investments in Belarus, , mln. USA © Ministry of Economy of the Republic of Belarus 2008
The main countries-investors in Belarus, 2007 (%) 5 © Ministry of Economy of the Republic of Belarus 2008
Organizations with foreign capital, 2002 – 2008 at the beginning of the year © Ministry of economy of the Republic of Belarus
The reasons to invest in Belarus Political and economic stabilityPolitical and economic stability High dynamics of economic growthHigh dynamics of economic growth Favorable economic and geopolitical locationFavorable economic and geopolitical location Access to the market of the Russian Federation and the EUAccess to the market of the Russian Federation and the EU Highly qualified labour, scientific and technical potentialHighly qualified labour, scientific and technical potential Export oriented economy (export more than 60% of GDP)Export oriented economy (export more than 60% of GDP) Credit raiting of the Republic of Belarus: “B+” (Moody’s Investors Service, Standart&Poors)Credit raiting of the Republic of Belarus: “B+” (Moody’s Investors Service, Standart&Poors) Low crime and corruption levelLow crime and corruption level Free Economic Zones and High Technologies ParkFree Economic Zones and High Technologies Park National Investment Agency (“One Stop Shop”)National Investment Agency (“One Stop Shop”) Dialog between Government and Investors through Foreign Investment Advisory CouncilDialog between Government and Investors through Foreign Investment Advisory Council 8 © Ministry of Economy of the Republic of Belarus 2008
Free economic zones (FEZ) MinskGrodnoinvestBrestVitebskMogilevGomel-Raton 9 © Ministry of Economy of the Republic of Belarus 2008
Advantages for residents of Free Economic Zones (FEZ) profit taxExemption from profit tax on products of own manufacture for the period of 5 years customs duties for importExemption from customs duties for import and export goods (own manufactured) From 1 st of April 2008: - ground-rent is payed on preferential terms during realization of the investment projects 10 - guarantees for taxes are unchangeable for 7 years for residents of FEZ © Ministry of Economy of the Republic of Belarus 2008
High Technologies Park activities Activities: Analysis, design and software development of information systems and technologies Software-based data processing Fundamental and applied research and development (R&D), experimental R&D in the field of natural and technical sciences (scientific, research, experimental and engineering works). Residents of High Technologies Park are exempted from: Profit Tax. Real Estate Tax Value Added Tax (VAT) Customs Duties & VAT imposed by custom bodies Individual income tax has a fixed rate - 9% Offshore fee © Ministry of Economy of the Republic of Belarus 2008
Preferences for enterprises setting up in the territories with number of people up to profit is exempted from the tax for 5 years free prices are set and appllied by organizations conditions of carrying out commercial activity are unchangeable for 5 years For foreign enterprises: technological equipment for formation Capital charter of organizations is exempted from Customs Duties and Value Added Tax (VAT) © Ministry of Economy of the Republic of Belarus 2008
Preferences and privileges for small and middle enterprises 13 Unified tax on gross revenues from the sale of goods (works, services) for organizations under 100 people in number is twice reduced Local authorities have the right to provide preferences for all business entities regardless the form of ownership, including bank loan guarantees at the expense of Local Budgets, preferences on the tax on immovable property, on land tax, ecological tax on the volume of used mineral resources Organizations under 15 employees in average number are exempted from accounting. © Ministry of Economy of the Republic of Belarus 2008
Preferences to corporate entities – residents of the Republic of Belarus that implement investment projects at the expense of external government loans (credits) Corporate entities –residents of the Republic of Belarus that implement investment projects at the expense of external government loans (credits) in accordance with the list, approved by the Government of the Republic of Belarus: have the right not to hold competitions (other forms of the procedures of purchases); are freed from the customs duties and the value added tax at importation into the customs territory of the Republic of Belarus of technological equipment and spare parts to it (with exception of those imported from the Russian Federation), intended for implementation of the indicated investment projects; have the right to the compensation of cash resources in the size of 50 percent of the sum of interest payments on external government loans (credits); are freed from pay for the state guarantee of the Republic of Belarus, and also from the need of submission of guarantee of the guarantor bank on external government loans (credits) in favor of the Republic of Belarus. © Ministry of economy of the Republic of Belarus
Measures taken to improve business environment in Belarus The declaration principle of state registration and liquidation of companies has been fixed; The granting procedure of special permissions (licences) to exercise of definite kinds of activity has been simplified; The authority of local executive committees in their decision to withdraw and to parcel lands has been extended; The auction sale of unused and ineffectively used state ownership objects by fixing of initial price equal to a basic value has been provided; The customs procedure for companies, which are given the status of bona fide participant of foreign economic activity, have been simplified. © Ministry of economy of the Republic of Belarus
List of objects, offering for transfer in concession Mineral deposits of: Gypsum “Brinevskoye”, Petrikovski region, Gomel oblast;Gypsum “Brinevskoye”, Petrikovski region, Gomel oblast; Iron-ore “Okolovskoye”, Stolbcovski region, Minsk oblast;Iron-ore “Okolovskoye”, Stolbcovski region, Minsk oblast; Iron-ore “Novoselkovskoye”, Korelichi region, Grodno oblast;Iron-ore “Novoselkovskoye”, Korelichi region, Grodno oblast; Bentonite clay “Ostrozanskoye”, Lelchinski region, Gomel oblast.Bentonite clay “Ostrozanskoye”, Lelchinski region, Gomel oblast. © Ministry of economy of the Republic of Belarus
Foreign Investment Advisory Council (FIAC) Foreign Investment Advisory Council (FIAC) Prime-Minister of the Republic of Belarus FIAC Standing Committee of the FIAC Development of financial markets Tax policy, Customs & Accounting Investment image image Investment legislation Working groups for: © Ministry of Economy of the Republic of Belarus 2008
National Investment Agency Purposes: 1. Improvement of the investment climate in Belarus 2. Development of the economic potential of Belarus by attracting of foreign and domestic investments. Activity directions: 1. International co-operation. 2. Provision informational and analytic services. 3. Investment projects maintenance. 4. Provision consulting services. 5. Organization of conferences, forums, seminars and business meetings. 6. Co-operation with state bodies and state officials. © Ministry of Economy of the Republic of Belarus 2008
19 Ministry of Economy of the Republic of Belarus National investment site Welcome to co-operation! © Ministry of Economy of the Republic of Belarus 2008
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