2011

Innovation Week ‘a success’ for Belarus

Belarus has signed a number of agreements with foreign companies in energy, petrochemistry and healthcare at the Innovation Week which is taking place in the country on 15-18 November, Chairman of the State Science and Technology Committee of Belarus Igor Voitov told a press conference on 17 November.

Belarus, Huawei to develop IT for healthcare

Belarus looks forward to cooperation with the Chinese company Huawei in the development of information technology for healthcare.

Belarus to resume WTO entry talks within months

Belarus offers Turkey collaboration in logistics and energy sectors, Foreign Minister of Belarus Sergei Martynov said at the meeting of the Belarusian-Turkish intergovernmental economic commission on 3 November.

Belarus offers joint energy, logistics projects to Turkey

Belarus offers Turkey collaboration in logistics and energy sectors, Foreign Minister of Belarus Sergei Martynov said at the meeting of the Belarusian-Turkish intergovernmental economic commission on 3 November.

Decision on Turkish investments into Belarus’ Kamvol due in November

he final decision on financing a project of the Belarusian company Kamvol by the Turkish company De Textile will be made in November, Prime Minister of Belarus Mikhail Myasnikovich said as he met with Minister of Culture and Tourism of Turkey Ertugrul Gunay on 3 November.

Foreign investors implement two woodworking projects in Belarus

Foreign investors are implementing two woodworking projects in Belarus: one in the free economic zone Mogilev by the VMG Industry who is IKEA’s partner, the other one in Smorgon District by the Kronospan Corporation.

Deals with foreign investors struck at Vitebsk business forum

21 October saw representatives of enterprises and local authorities of Vitebsk Oblast sign five protocols of intent and five agreements with foreign investors and companies.

UFS to raise investments on behalf of Belarus

The foreign limited liability company “UFS Investment Company” has been authorized to represent the interests of Belarus in attracting investments into the country. Such decision is contained in Resolution No. 1396 of the Council of Ministers as of 17 October 2011.

Belarus improves standing in Doing Business 2012 ranking

Belarus has significantly improved its standing in the Doing Business 2012 report made by the World Bank and the International Finance Corporation.

Large furniture factory to be built in Belarus

A large furniture factory will be built in Belarus, Belarusian Premier Mikhail Myasnikovich stated as he visited the Ivatsevichdrev company on 12 October.

Belarusian PM urges to implement Ivatsevichdrev investment project faster

The implementation of the investment project to build a workshop to manufacture flake boards and laminated boards at OAO Ivatsevichdrev should be accelerated without damaging quality, said Prime Minister of Belarus Mikhail Myasnikovich as he visited OAO Ivatsevichdrev, Ivatsevichi District on 12 October.

Enertrag pledges to implement windmill project in Belarus in full

Enertrag AG intends to implement the project for the construction of a 160 MW windmill in Belarus in full volume. The investment will approximately total ?360 million.

Belarus to conclude 20 energy efficiency agreements as part of UNDP/GEF project

About 20 investment agreements on energy efficiency will be concluded as part of the UNDP/GEF project “Removing Barriers to Energy Efficiency Improvements in the State Sector in Belarus” by late 2011, Antonius Broek, UNDP Resident Representative in Belarus, told reporters on 30 September.

A new biogas production to be launched in Belarus in November

A new biogas complex is to operate from November, 1 at agricultural enterprise “Snov” (Nesvizh district). The biogas complex capacity is 2 MW. Total investment amounts to 6.7 mln Euro.

A draft geothermal project is carried out in Belarus

OOP “Ilmax” operates a draft geothermal project for thermal pump implementation in Minsk region on Nesvizh central district hospital base. Project realization assumes 60 wells of less than 100 m depth drilling.

Global textile brands keen on joint projects with Belarus

Global textile brands are interested in joint projects with Belarus, the chairman of the Belarusian light industry concern Bellegprom Gennady Vyrko told reporters on 9 August.

IKEA to sponsor enterprise construction in Grodno Oblast

IKEA International Group is eager to invest ?12 million in the construction of a wood-processing enterprise in Svisloch District, Grodno Oblast.

EBRD upgrades Belarus 2011 growth forecast

In comparison with the May forecast the European Bank for Reconstruction and Development has revised upward its outlook for the Belarusian economic growth from 3% to 5%, according to the EBRD’s July press release for 29 countries with economy in transition.

Polish company may invest in sugar factory project in Belarus

Krajowa Spolka Cukrowa S.A. from Poland can become an investor in a sugar factory project in Belarus, the chairman of the Belgospishcheprom concern Ivan Danchenko told reporters.

Belarus wants to raise Azeri capital to develop logistic centers

Belarus would like to raise Azerbaijani investments to develop transport and logistic centers, announced Transport and Communications Minister of Belarus Ivan Shcherbo.

Belaruskali to go IPO

A minority stake in Belaruskali will be offered in foreign stock exchanges, First Deputy Prime Minister Vladimir Semashko told reporters.

Government to put its stake in MTS up for sale

The government’s stake in Mobile TeleSystems (MTS) is expected to go for sale this year, announced the State Property Fund of the State Property Committee.

Lithuanian businessmen to finance Belarus' renewable energy projects

Lithuanian businessmen are ready to invest in Belarus' renewable energy projects, Bronislovas Lubys, President of the Lithuanian Confederation of Industrialists, told reporters on 27 June.

Asahi Glass Compani interested in joint projects with Belarus

Japan’s Asahi Glass Compani concern is interested in joint projects in glass industry with Belarus, said the concern’s director general for CIS Vladimir Shigaev as he met with Belarus’ Prime Minister Mikhail Myasnikovich.

Belarus-China industrial park to focus on biotechnologies, engineering

The Belarus-China industrial park is expected to specialize in three main industries, namely biotechnologies, fine chemistry and engineering, Belarus’ Economy Minister Nikolai Snopkov told reporters on 28 June.

The President of Belarus suggested granting investors the right to use preferential terms given to FEZ

Belarus President Alexander Lukashenko has suggested granting investors the right to use preferential terms given to FEZ resident companies in any region of the country. The head of state made this statement as he visited Santa Bremor and Savushkin Product companies on 23 June.

Turkish Taysad eager to cooperate with Belarus

Turkish Taysad, the Association of Automotive Parts and Components Manufacturers, is interested in cooperation with Belarusian car producers, President of Taysad Association Celal Kaya said as he met with Deputy Chairman of the Mogilev Oblast Executive Committee Vladimir Kravtsov on 21 June.

Belarus invites Israeli companies to Minsk High-Tech Park

Belarus has invited Israeli companies to participate in the development of the Minsk High Tech Park, Minister of Tourism of Israel Stas Misezhnikov told reporters on 21 June.

Belarus, Italy sign agreements in science, education, culture

Belarus and Italy intend to expand relations in science and technology, education and culture. This intention is envisaged in three Belarus-Italy intergovernmental agreements concluded in Trieste on 10 June.

Investment agreement worth $1.2m signed in Postavy

An investment agreement worth $1.2 million and two cooperation agreements were signed at the forum in Postavy, was announced by the Postavy District Executive Committee.

Belarusian-Chinese industrial park near Minsk unveiled

A Belarusian-Chinese industrial park will be set up near Minsk, Prime Minister of Belarus Mikhail Myasnikovich told the press on 1 June.

Lepel Dairy Factory, Russian investor to set up joint cheese company

Lepel Dairy Factory together with a Russian investor will set up a joint enterprise to produce Cheddar cheese, announced the director of the company Alexander Mikhailovsky.

Advisory board on government programs set up in Belarus

An advisory board on government programs has been set up in Belarus in accordance with the Council of Ministers’ Resolution No. 660 of 24 May 2011, announced the press service of the Belarusian government.

Belarus, Slovenia to explore new cooperation avenues

Belarus and Slovenia are set to seek out new ways of cooperation to realize its full potential. This topic has been the focus of attention at a session of the intergovernmental Belarusian-Slovenian commission for trade, economic and sci-technical cooperation.

Belarus, Kazakhstan to implement 5-7 high-tech projects shortly

Belarus and Kazakhstan will implement 5-7 important high-tech projects in the near future, Anatoly Rusetsky, Chairman of the Presidium of the National Academy of Sciences of Belarus, said after the negotiations in Astana on 25 May

Belarus to explore Austrian experience in energy efficiency

Belarus will explore the Austrian experience in energy conservation and efficiency, the deputy chairman of the State Committee for Standardization - Director of the Energy Efficiency Department Leonid Shenets said when speaking at an international scientific conference “Alternative sources of raw materials and fuels” in Minsk.

Russia ready to buy Belarus’ interest in Beltransgaz for $2.5bn

Russia is ready to pay $2.5 billion for the Belarusian stake in the Beltransgaz Company, Belarus Premier Mikhail Myasnikovich told media on 20 May.

Polish companies interested in joint ventures in Belarus

The analysis of the development of relations between North-Western regions of Poland and Belarus proves that Poland is vigorously penetrating Belarus’ market, media learned from Consul General of Belarus to Poland Ruslan Yesin who is taking part in the Gomel Economic Forum.

Czech, Latvian investors to set up joint ventures with Vitebsk Evistor

Czech and Latvian investors are interested in cooperation with Vitebsk-based plant Evistor. The protocols of intention to set up joint companies were signed during the innovation-investment forum “Innovation Business – Investment in the Future” in Vitebsk on 20 May.

Belarus to produce Italian cheese

A plant to produce Italian cheese will be built in Belarus, Agriculture and Food Minister of Belarus Mikhail Rusyi told media on 19 May.

Ikea goes to Belarus, not Russia, to supply Russia

Belarus rarely attracts foreign capital so the ?76m that a Lithuanian company has decided to invest in a wood processing hub in the country is a very big deal.

IBRD to allocate $125m to Belarus for energy efficiency projects in 2009-2014

In 2009-2014 the International Bank for Reconstruction and Development (IBRD) will provide Belarus with $125 million in credit facilities for energy efficiency projects.

Belarus seeking investors for merchant marine development

Belarus is in talks over attracting investors from Spain and Portugal for the development of a merchant marine fleet, announced Transport and Communications Minister of Belarus Ivan Shcherbo.

Lithuanian businessmen interested in agricultural projects in Minsk Oblast

Lithuanian businessmen are interested in implementing agricultural projects in Minsk Oblast, announced Yelena Sushkevich, Deputy Chairwoman of the Economy Committee of the Minsk Oblast Executive Committee.

Belarus to build and upgrade 164 energy facilities running on local fuels by 2016

Belarus will build and modernize 164 energy facilities running on local fuels by 2016. This goal is envisaged in the National Program for the Development of Local Fuels and Renewable Energy for 2011-2015 approved by the Council of Ministers’ Resolution No 586.

Belarusbank raises loan from German banks to finance supply of equipment for Gomeldrev

Belarusbank signed a credit agreement to the tune of more than $40 million with a consortium of German banks to finance the supply of equipment for Gomeldrev.

Belarus may become logistics center of Eastern Europe

Belarus may become the logistics center of Eastern Europe, American economist, professor from San Francisco University Peter Young told the First National TV Channel on 14 May.

Investment agreement to build Zelva condensation power plant to be signed by late 2011

The investment agreement to build the Zelva condensation power plant in Grodno Oblast, will be signed by the end of 201, announced Mikhail Luzgin, Deputy Director General of the Belarusian state power engineering corporation Belenergo.

Belarus to set up new car production facility

A new car-making company will be established in Belarus, Deputy Head of the Chief Innovation and Investment Department of the Industry Ministry of Belarus Valery Fishman told reporters on 12 May.

Belarus to set up regional venture companies

In the next five years Belarus is planning to set up a modern network of regional venture capital companies and funds, the chairman of the State Committee on Science and Technology of Belarus Igor Voitov said at a press conference in Minsk.

Belarus to invite foreign investors to create center for electronics, laser technologies

Foreign investors will be invited to take part in the project to set up a center for microelectronics and laser technologies in Belarus, Chairman of the State Science and Technology Committee of Belarus Igor Voitov told media on 12 May.

Belarus to make unmanned aircraft in job lots

Belarus plans to start batch production of unmanned aircraft and export them, Sergei Rakhmanov, Deputy Chairman of the Presidium of the National Academy of Sciences of Belarus, told the press on 12 May.

Belarusian Belbiopharm aims to accomplish major investment projects

Enterprises of the Belarusian pharmaceutical concern Belbiopharm plan to accomplish 16 major investment projects in the current five-year term, Belbiopharm President Mikhail Cherepok told media on 10 May.

Belarus, China to implement new joint projects worth $1.5bn

Belarus has plans to sign agreements with China to fulfill new major joint projects estimated at $1.5 billion in 2011, Deputy Prime Minister of Belarus Anatoly Tozik said as he met with member of the Central Committee of the Communist Party of China, Communist Party Secretary of the Inner Mongolia Autonomous Region Hu Chunhua on 10 May.

Vitebsk Oblast to implement around 200 projects with Russian investors

There are plans to implement around 200 projects together with Russian investors in Vitebsk Oblast in the next two years, Chairman of the Vitebsk Oblast Executive Committee Alexander Kosinets told media on 6 May.

Druskininkai to host Belarusian-Lithuanian Economic Forum 12-13 May

The seventh Belarusian-Lithuanian Economic Forum will be held in the town of Druskininkai on 12-13 May. It will bring together over 400 representatives from the regions of Belarus and Lithuania.

Belarus gets down to $125m WB-financed energy-saving project

Belarus is about to start implementing an energy-saving project worth $125 million. The project is financed by the World Bank, Leonid Shenets, Director of the Energy Effectiveness Department of the State Standardization Committee of Belarus, told the press on 5 May.

Belarusian Industry Ministry to invite foreign companies to major investment projects

The Belarusian Industry Ministry intends to invite foreign companies to take part in realizing its major investment and innovation projects that will be accomplished in 2011-2015. The information was released by Dmitry Korchik, Head of the Central Office for Innovations and Investments of the Industry Ministry, on 5 May.

New companies with foreign shares to be set up in Belarusian farm sector

New companies with foreign shares will be set up in the agribusiness industry of Belarus, Deputy Prime Minister Valery Ivanov told reporters.

Belarus plans to reduce GDP energy intensity by 2016

By 2016 Belarus plans to reduce the GDP energy intensity to some 200-208 kg of oil equivalent per $1,000, deputy chairman of the State Committee for Standardization of Belarus and director of the energy efficiency department Leonid Shenets told reporters.

Investment in Belarus’ gas pipeline system in excess of Br1tn in 2006-2010

Investment in the gas pipeline system of Belarus made up nearly Br1.1 trillion in 2006-2010.

Belarus’ delegation in Czech Republic on a visit

The 3rd session of the Belarusian-Czech mixes commission for economic, industrial and sci-tech cooperation will take place in Prague on 5-6 May, announced the press service of the Foreign Ministry of Belarus.

Belarus, Lithuania sign memorandum of cooperation in IT

Belarus and Lithuania signed a memorandum of cooperation in information technologies, Director of the Department of Information of the Transport and Communications Ministry of Lithuania Gytis Liaugminas told the ONT TV Channel.

French company eager to cooperate with Belarus in flax industry

A big French company has put forward a proposal for Belarus to implement a joint project in flax industry, Deputy Agriculture and Food Minister of Belarus Vasily Pavlovsky told a press conference on 28 April.

India ready to invest in Belarus’ pharmaceutical industry

Indian investors are ready to finance the construction of several pharmaceutical manufactures in Belarus, announced academician of the Department of Chemistry and Earth Science of the National Academy of Sciences of Belarus, Professor Sergei Usanov.

Belarus plans to set up innovative holding companies

Belarus is planning to set up innovative holding companies in the next five years, the chairman of the State Science and Technology Committee of Belarus Igor Voitov told media in Minsk.

Grodno-based company to develop publishing software

A regional center to develop publishing platform software opened in Grodno on 25 April at premises of the manufacturing office of IntexSoft company, a resident of the High-Tech Park, IntexSoft Director Vasily Yavorchuk told media.

Finland invests 5m EURO in FEZ Grodnoinvest

A group of Finnish companies is investing in the construction of three new companies in the Grodnoinvest free economic zone (FEZ Grodnoinvest), said Deputy Head of the FEZ Administration Dmitry Rozhkov.

Italian businessmen to produce cheese in Chernobyl-hit regions

Italian investors are keen to create small businesses to manufacture and process agricultural products in the regions affected by the Chernobyl disaster, announced deputy chairman of the House of Representatives’ Permanent Commission for Education, Culture, Science and Technical Progress Alexander Shatko.

Chinese companies ready to participate in Belarus’ innovation development program

Chinese companies are ready to participate in projects of the new state innovation development program of Belarus for 2011-2015, the draft of which is being finalized now.

Finance Ministry: Investors’ interest in car assembly in Belarus will increase

The interest of investors in opening car assembly plants in Belarus will increase, the chief of the main tax policy and budget revenue department of the Finance Ministry, Dmitry Kijko, told reporters.

Belarus, Iran to step up cooperation in agribusiness

Belarus and Iran plan to step up cooperation in agribusiness, announced the press service of the Belarusian Agriculture and Food Ministry.

Belarus to set up 209 major innovative enterprises within five years

During the current five-year terms 209 major innovative enterprises will be set up in Belarus, Prime Minister of Belarus Mikhail Myasnikovich told media on 20 April as he analyzed the progress in putting together a state program for the country’s innovative development in 2011-2015.

EDB grants $63.5m to Osipovichi Carriage Works

The Eurasian Development Bank (EDB) has signed an agreement to open a $63.5 million credit line to the Osipovichi Carriage Works as part of the production project of freight railway transport, tank containers and their maintenance.

Belarus to build 385MW wind farms by 2015

In 2011-2015 Belarus plans to construct wind farms with a total electric capacity of 265-285MW, chairman of the permanent commission for economy, budget and finances of the Council of the Republic of the National Assembly of Belarus Vadim Popov said in an international conference, Securing Energy Stability of Companies and Opportunities to Use Alternative Energy Resources, in Minsk on 19 April.

Chinese investor interested in logistics center near Grodno airport

A Chinese company is interested in setting up a transportation and logistics center near the Grodno airport, said Dmitry Rozhkov, deputy head of the administration of the free economic zone Grodnoinvest.

Belarus in talks with Russia over biotechnology park

Belarus is in negotiations with Russian companies over creation of the Biograd national park of nanotechnologies, biotechnologies and pharmaceutics, head of the science and innovations department of the Economy Ministry of Belarus Dmitry Krupsky told reporters.

Major European company ready to build tire recycling plant in Belarus

Major European company Balkan Advisory Company is ready to build a plant in Belarus to process old tires, announced the press service of the State Committee for Science and Technology of Belarus.

Major Israeli investor ready to partake in Belarus’ agribusiness projects

Rafael Eitan, a major Israeli businessman, a co-owner of the Israeli company Reesimex and the Cuban company Grupo Bm, is ready to take part in agribusiness projects in Belarus. Rafael Eitan made the relevant statement for mass media before he met with Prime Minister of Belarus Mikhail Myasnikovich on 13 April.

Investors’ interest in Belarus still high

There are plans to implement investment projects worth a total of 840 million EURO in Brest Oblast in the current five-year term, Brest Oblast Governor Konstantin Sumar told media at the opening of the 4th Brest Investment Forum on 13 April.

Polish Ambassador: Grodno Oblast appeals to Polish investors

Grodno Oblast is attractive for Polish investors, Ambassador Extraordinary and Plenipotentiary of the Republic of Poland to the Republic of Belarus Leszek Szerepka told reporters in Grodno on 8 April.

Belarus to use local fuels to generate 28-30% of energy by 2015

Local fuels will be used to generate 28-30% of the energy Belarus needs by 2015, First Vice Premier of Belarus Vladimir Semashko told a press conference on 7 April.

Dutch investor to build hotel in Minsk

Minsk City Hall has signed an investment agreement with a company, which is based in the Netherlands, to build a hotel complex in Minsk. The investments are estimated at about $60 million.

State share in Belarusian MTS up for sale

The state share in the Belarusian mobile company MTS will be available at an international tender, Vice Premier of Belarus Anatoly Kalinin told media on 8 April.

World Bank experts examine Belarusian companies to be privatized

Experts of the World Bank have visited 13 Belarusian open joint-stock companies, which are earmarked for privatization, Natalia Zhernosek, Director of the State Property Fund of the State Property Committee of Belarus, told media on 7 April.

Belarus to implement $1.77 billion worth of investment projects in 2011

Belarus is set to implement over 80 major investment projects to the tune of more than $1.77 billion in 2011. The list of the projects was adopted by Resolution No. 430 of the Council of Ministers of 4 April.

Microsoft to open office in Belarus in April

Microsoft Corporation is eager to open an office in Belarus in April, Mikhail Makhanek, representative of Microsoft in Belarus, told reporters on 5 April.

WB ready to support forestry development in Belarus

The Forestry Ministry of Belarus counts on the World Bank support within the regional program, Improving Forest Law Enforcement and Governance (FLEG) of the Eastern Member-States of the European Neighborhood Policy and Russia. The statement was made in a meeting between First Deputy Forestry Minister Fyodor Lisitsa and head of the FLEG regional program Andrew Mitchell who is in Minsk on a working visit.

Germany willing to buy carbon offsets from Belarus

Germany’s Michael Otto Foundation is ready to buy carbon offsets from Belarus worth ?3-5 million, the director of the public birds’ protection organization of Belarus Viktor Fenchuk told reporters.

Agency for Investments and Privatization de facto operational in Belarus

The Investments and Privatization Agency is de facto operational in Belarus, Belarusian Economy Minister Nikolai Snopkov told media on 31 March.

Share of high-tech products in Belarus’ exports to rise six times in five years

The share of high-tech products in Belarus’ exports is expected to increase six times at the minimum in the current five-year period, Economy Minister of Belarus Nikolai Snopkov told reporters on 31 March.

Belarus tightens fiscal and monetary policies

The Belarusian government and the National Bank are taking economic policy measures to curb the domestic aggregate demand and ensure the balanced development of the economy. The National Bank has tightened the monetary management policy by using the available means, announced representatives of the Belarusian Finance Ministry.

More efforts to attract investments to Belarus

More efforts will be put into improving the investment climate and the investment attractiveness of Belarus. The topic was discussed at a regular session of the workgroup tasked with forming a favorable investment image of the country abroad on 30 March.

Strabag ready to construct mining and processing enterprise at Sitnitsa deposit

The Austrian concern Strabag is ready to partake in the construction of a mining and processing enterprise at the Sitnitsa deposit of building stone in Belarus, Deputy Natural Resources and Environment Minister Anatoly Lis told media on 30 March

Belarus to inject $500,000 in tourism industry in 2011

Belarus is set to invest Br1.5 billion in the promotion of tourism industry in 2011. This is stipulated by the state tourism promotion program for 2011-2015 adopted by the Council of Ministers

Gomel Oblast may look for new investor for cement plant project

Gomel Oblast is considering attracting a new investor for the investment project to develop Podkamenie and Shirokoye chalk deposits and build a cement plant with the engineering, transport and social infrastructure, announced the chairman of the Gomel Oblast Executive Committee Vladimir Dvornik

World Bank experts to visit Belarusian companies on 2011-2013 privatization list

A team of World Bank experts will visit the Belarusian enterprises, which are supposed to be privatized in 2011-2013, announced the press service of the State Property Committee of Belarus after top executives of the committee met with World Bank experts earlier on 24 March.

Belarus approves privatization plans for 2011-2013

Belarus has approved the privatization plan of enterprises owned by the Republic of Belarus, and the plan to transform the republican unitary enterprises into joint stock companies in 2011-2013.

Belgospischeprom, German Uniferm sign investment contract to build yeast factory

The Belarusian state food industry concern Belgospischeprom and the German company Uniferm have signed an investment contract to build a yeast factory in Slutsk District.

Over 800 dairies to be built in Belarus in 2011-2015

Belarus plans to build 875 dairies and implement upgrade projects at more than 1350 national dairies in 2011-2015.

Russian investors to build logistics terminal in Verkhnedvinsk District

Russian investors have plans to construct a logistics terminal in Verkhnedvinsk District, on the border between Belarus and Latvia, announced Deputy Vitebsk Oblast Governor Oleg Matskevich.

Belarus may earn on seed export

Belarus may make money on the export of seeds, Prime Minister of Belarus Mikhail Myasnikovich said as he visited the Natalyevsk Company during his working trip to Cherven District on 19 March.

Number of primary accounting documents to drop in Belarus

The number of types of primary accounting documents used by Belarusian businesses for economic operations will be drastically reduced, said representatives of the Belarusian Finance Ministry as they commented on the Belarus president decree “Peculiarities of using primary accounting documents” of 15 March 2011.

Belarus plans to raise $9mn from GEF for new environmental projects

Belarus expects to raise about $9 million from the Global Environment Facility (GEF) for new environmental projects, said Alexander Rachevsky, the chief of the international cooperation department of the Ministry of Natural Resources and Environment.

Poland invited to construct sugar mill in Mogilev Oblast

Mogilev Oblast invites Polish investors to partake in the construction of a sugar mill near Bobruisk, Chairman of the Economy Committee of the Oblast Executive Committee Nikolai Dudinsky said in a meeting between the local authorities and Polish journalists on 18 March.

Foreign companies show interest in Belarus’ mining projects

Foreign companies are showing keen interest in the mineral deposit development projects of Belarus, Vladimir Tsalko, Minister of Natural Resources and Environmental Protection.

Minsk Oblast eager to cooperate with Poland

Minsk Oblast is interested in cooperating with Poland in vegetable processing and fish farming, said Minsk Oblast Governor Boris Batura as he met with Polish journalists.

Belarus announces tenders for development of brown coal deposits

Belarus has announced open international tenders to find investors for development of brown coal deposits in Brinevo, Zhitkovichi and Tonezh.

Eco Clean Energy to build waste recycling plant in Minsk

Eco Clean Energy (Czech Republic) is set to build a waste recycling facility with plasma reactor in Minsk. Minsk Mayor Nikolai Ladutko and chairman of the supervisory board of the Czech company Vaclav Aubrecht signed the relevant investment agreement at the Minsk City Hall on 16 March.

New confectionary company to be built in Belarus

A new confectionary will be built in Belarus, Chairman of the Belgospishcheprom Concern Ivan Danchenko told reporters in Minsk on 16 March. The progress made by the concern in reaching foreign trade surplus as well as its investment attraction policy were considered at a session of the Council of Ministers Presidium.

Sberbank ready for more projects in Belarus

Sberbank of Russia is ready to implement another set of big projects in Belarus, Chairman of the Board of Sberbank of Russia German Gref told reporters on 10 of March.

Belarus announces tender for development of Sitnitsa deposit of building stone

Belarus has announced an open international tender to select an investor for the project to develop the Sitnitsa deposit of building stone and construct a mining and processing enterprise, announced the Ministry of Natural Resources and Environmental Protection.

Belarus in talks with Belgium, France, Japan over flax processing

Belarus is in talks with companies from Belgium, France and Japan over creation of joint enterprises to process flax rotted straw and flax fibers, Minister of Agriculture and Food of Belarus Mikhail Rusyi said at a session of the CIS Intergovernmental Council for Agriculture.

Belarus eases price control from 1 March

The law on price liberalization takes effect in Belarus on 1 March. Corresponding decree No 72 “On the issues of regulating prices (tariffs) in the Republic of Belarus” was signed by Belarus President Alexander Lukashenko on 25 February.

Decree No 75 provides additional opportunities for regions to raise foreign investment

Decree No 75 “On external borrowings of local government and self-government bodies” provides additional opportunities for the regions to raise foreign investment, announced the deputy chief of the financial department of the Minsk City Hall Nikolai Dubovik.

Belarus to reduce share of dominant energy supplier to 70% in 2015

Belarus will be working to diversify supplies of oil, natural gas, electricity and coal, and reduce the share of the dominant energy supplier in the gross energy consumption to 70-71% by 2015. This target is spelled out in the government’s plan of action for 2011-2015.

Belarus, Turkey set up joint business association

Belarusian and Turkish businessmen have set up an association for joint business development. The presentation of the Belarusian-Turkish association BETID, which was attended by Ambassador Extraordinary and Plenipotentiary of Turkey to Belarus Veka Inal, took place in Minsk on 25 February.

Around 30 Belarusian companies may go public in 2011-2015

About 30 Belarusian companies may go public in the next five years, the executive director of the Russian Interfax Business Service Mikhail Matovnikov said during the first Belarusian IR-Forum.

Belarus to put over $8.6bn in energy conservation in 2011-2015

The total financing of the Belarusian national program on energy conservation and the use of local energy resources in 2011-2015 will exceed $8.6 billion, First Deputy Director of the Department for Energy Efficiency of the State Standardization Committee Viktor Akushko said at the international seminar on renewable energy development in Minsk on 22 February.

Implementation of tax-free system is to increase the number of tourists in Belarus

According to the representatives of the Ministry of Trade, the implementation of system of returning the value added tax (tax-free) on the goods acquired by foreign citizens will increase the number of tourists visiting Belarus, retail turnover, foreign currency inflows and contribute to a better image of the state.

First Belarusian IR forum will be held on 25 February in Minsk

The event is aimed at increasing investment attractiveness of the Belarusian enterprises. “The world’s leading international consultants and investors interested in investing in the Belarusian economy will share their experience and give recommendations to improve the investment attractiveness of the Belarusian companies", - the experts said.

Belarus set to raise $6.4b worth of FDI in 2011

According to Deputy Prime Minister of Belarus Sergei Rumas, Belarus is determined to raise $6.4 billion worth of foreign direct investments in 2011.

Belarus drafts decree on liberalization of price formation

According to Deputy Economy Minister of Belarus Andrei Tur, a new decree on liberalization of price formation has been drafted in Belarus.

Antitrust authority to be set up in Belarus

An antitrust authority will be set up in Belarus, Deputy Prime Minister of Belarus Sergei Rumas said at the House of Representatives on 16 February.

Latvia ready to build up economic cooperation with Belarus

Latvia is interested in boosting economic cooperation with Belarus and is ready to undertake necessary efforts, Ambassador of Latvia to Belarus Mihails Popkovs said at the Minsk-Riga investment forum.

Deutsche Bank sees good cooperation opportunities in Belarus

Deutsche Bank sees good opportunities for developing cooperation with Belarus in investment banking, chairman of the board at Deutsche Bank Joerg Bongartz told reporters on 10 February.

No new taxes in Belarus

“No new taxes will be introduced in Belarus,” – announced the Minister of Finance Andrei Kharkovets on the board meeting.

Ministry of Finance to Reduce Income Tax Rates by 2-4%

According to the Minister of Finance, the income tax rate can be reduced by 2-4% in Belarus from 2012. Andrei Kharkovets also does not exclude that income tax rate can be lowered to 18% in the event of the Belarusian economy's positive results and high growth rates.

No taxes on investments and innovations in Belarus starting from 2012

Starting from 2012 investment and innovation in Belarus may not be taxed, Finance Minister of Belarus Andrei Kharkovets said at a session of the ministry.

Belarus to announce tenders to develop brown coal, iron ore and oil shale deposits in March

In March 2011 Belarus will announce open international tenders for selection of investors for the development of brown coal, iron ore and oil shale deposits, announced the spokesperson for the Ministry of Natural Resources and Environmental Protection Yelena Peniaz.

Belarus and Italy discuss joint projects in road construction

The Ministry of Transport and Communications of Belarus has invited Italian companies and banks to participate in road construction and maintenance projects.

Belarus to ease terms of leasing mineral deposits to investors

Belarus is going to improve laws regulating the development of mineral deposits by investors in the near term, announced the Minister of Natural Resources and Environmental Protection Vladimir Tsalko.

Shares of 244 Belarus’ companies to go on sale in 2011-2013

Shares of 244 joint stock companies will be put on sale in Belarus in 2011-2013, announced the State Property Committee.

Innovation and investment bank might be set up in Belarus

The State Committee for Science and Technology initiates the establishment of an innovation and investment bank in Belarus, Chairman of the committee Igor Voitov said at the session of the Presidium of the Council of Ministers of Belarus on 1 February.

Belarus to offer most favorable terms for businessmen and investors

The Government of Belarus is determined to offer entrepreneurs and investors the most favorable terms of doing business, Deputy Prime Minister of Belarus Sergei Rumas said at a session of the Council of Ministers to discuss the draft program of the government’s action plan for 2011-2015 on 1 February.

Belarus to develop competitive financial market

Belarus has plans to develop a competitive financial market capable of meeting the needs of the domestic economy in investment resources, Deputy Prime Minister Sergei Rumas said at the Council of Ministers’ session.

EBRD notes progress in cooperation with Belarus

The European Bank for Reconstruction and Development (EBRD) notes progress in the cooperation with Belarus, Paul-Henri Forestier, EBRD Regional Director for the Caucasus, Moldova and Belarus said as he met with Belarus’ Prime Minister Mikhail Myasnikovich on 31 January.

Belarus accedes to WCO Kyoto Convention

Belarus has acceded to the International Convention on the Simplification and Harmonization of Customs Procedures (revised Kyoto Convention) of the World Customs Organization, announced the press service of the State Customs Committee.

Belarus’ manufacturers of innovative products to get additional benefits

There are plans to provide additional benefits to Belarus’ manufacturers of innovative products, Igor Voitov, Chairman of the State Science and Technology Committee (SSTC), said at a press conference on 24 January.

The first venture projects are determined in Belarus

The State Science and Technology Committee (SSTC) jointly with interested government agencies and departments determined the first projects to be implemented in Belarus with the use of venture funding mechanisms. This was announced on 25 January at a press conference by the chairman of the Committee Igor Voitov.

German investors to launch new bioenergy project in Belarus

The German Fund of Michael Succow is going to launch a bioenergy project in Belarus, announced the press service of the State Science and Technology Committee (SSTC).

Belarus completed the placement of Eurobonds in the value of $ 800 million

The Republic of Belarus has completed placement of Eurobonds in the value of $800 million with a coupon rate of 8.95% and mature date in 2018.

2.5 million euros is planned to attract for creation of joint venture PAGET on timber harvesting in 2011

The Belarusian-Polish venture PAGET on the harvesting of timber in the Vitebsk oblast plans to attract 2.5 million euros by 2011. This was announced on November 19 by the Minister of Forestry Mikhail Amelyanovich.

Venture Fund will be created in Belarus

Management Company “Zubr Capital” operating in Belarus with private equity funds, will create a fund of venture investments. It was announced on 18th of January. by the chairman of the board of directors of the holding "Atlant-M" Oleg Husaenov.

Polotsk is to participate in the new EU project on sustainable energy development

International conference launching the European Union project "SURE: Sustainable energy development in the European Neighbourhood on the way to the" Covenant of Mayors "opens on the 18th of January in Polotsk.

Internet casinos may be set up in Belarus

Legal regulation and introduction of new technologies in the area of gambling business with regard to the organization of gambling in the Internet will be considered at the final stage of the execution of the gambling business development concept in Belarus

Belarus ranks third in GDP growth among the CIS countries

Belarus ranks third in GDP growth among the CIS countries, following Turkmenistan and Uzbekistan as the World Bank analysis report says. The GDP growth in those countries reached 11.7%, 8% and 7%, respectively. According to the World Bank forecast for Belarus to preserve high growth rates among CIS countries at the 8.3% level in 2011-2012.

Belarus has adopted a law on renewable energy sources

The law regulates the state control of the use of renewable energy sources, consolidates the authority of the ministries and other executive and administrative bodies, and determines the rights and obligations of energy producers and the public power supply companies.

Belarus’ international reserve assets will increase in 2011

The international reserve assets growth target will be met in 2011, Piotr Prokopovich, Сhairman of the Board of the National Bank of Belarus, said as he reported to President of Belarus Alexander Lukashenko.

Braslav District to build yacht club, alpine ski track by 2015

Braslav Town Hall proposed to include more than ten investment projects in the Braslav District development program, announced Deputy Chairman of the Braslav Town Hall Valentina Vysotskaya.

New rules of timber trading on domestic market approved

New rules of timber trading on the domestic market have been approved in Belarus. They broaden the rights of producers and consumers of timber products according to the decree of the President Alexander Lukashenko signed on the 1st of January, 2011.

Directive No 4 creates favorable conditions for business

Directive No 4 “On the Development of Entrepreneurship Initiative and Stimulating Business Activity in the Republic of Belarus” is aimed at developing more favorable conditions for business activity, told director of the Brest Oblast Small Business Support Center Vladimir Mazalov.

EBRD opens $10m credit line for Belvnesheconombank to support small business

The European Bank for Reconstruction and Development (EBRD) has opened a $10m credit line for Belvnesheconombank for five years to provide credit support to small and medium-sized businesses.

Belarus’ HTP registers six new resident companies

Belarus’ High-Tech Park (HTP) has registered six new resident companies, was announced by the HTP administration.