Serbia, Belarus and Ukraine are amongst the least open for business out of the 80 economies included in the recent ‘Best countries to start a business’ report by US News & World Report, the Wharton Business School and BAV Consulting. The countries rank 75th, 77th and 78th respectively. Continue reading Serbia, Belarus and Ukraine Ranked Lowly by Wharton Business School
Over 90 per cent of the $956.8 million Belarusian IT market is external and involves exports. In 2016, the share of IT exports, in the country’s total exports of goods and services, accounted for 3.25 per cent, up from 0.16 per cent in 2015, according to EY’s ‘The IT Industry in Belarus: 2017 and Beyond’ report. Continue reading EY: Belarus’ IT Scene Is Thriving
Instead of using the Lithuanian ports, Belarus should use Russia’s Baltic ports in the Gulf of Finland, Saint Petersburg and Ust Luga, to transport its oil products made from Russian crude oil, said Russian president, Vladimir Putin during his recent visit to Russia’s Baltic Sea exclave of Kaliningrad, sandwiched between Poland and Lithuania. Continue reading Putin Urges Belarus to End Oil Transit Through Lithuania
RuchTech, an American fibre laser manufacturer and a subsidiary of IPG Photonics Corporation, has set up in the Great Stone Industrial Park located on the outskirts of Belarus’ capital city of Minsk. Within the next two years the investor is planning on constructing a plant that will produce various types of laser equipment, both for industrial and medical purposes. Continue reading 21st century Manufacturing Arrives at Great Stone
According to the EU statistics, China and Europe now trade well over €1 billion a day. The Asian giant is the EU’s second trading partner behind the United States and the EU is China’s biggest trading partner. At the same time the country accounts for a mere two or three per cent of overall European investments abroad. Why? Perhaps because some European investors are concerned about starting their own operations in China.
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
While Belarus will not have its Euromaidan any time soon, recent developments at home and abroad suggest that the country’s political course is not set in stone. Continue reading Not All Quiet on the Eastern Front
Despite its natural beauty spots and historical sites, Belarus isn’t a top tourist destination. As a matter of fact, it has been one of the least visited countries in Europe. Unfortunately, Belarus remains unknown to both foreign tourists and large-scale international business, primarily because of its visa regime. However, this is expected to change now, as Belarus is striving to overcome this stereotype and 12 February 2017 marks the important day when the visa regime changed. Continue reading Will the New Five-day Visa-free Regime Encourage More Visitors to Belarus?
Belarus is the European Union’s 46th trade partner and its 3rd trading partner among the six Eastern Partnership (EaP) countries. At the same time, the EU is the second trade partner for Belarus after Russia and accounts for above one quarter of its total trade. Interestingly, Belarus has the least stabilised contractual relations with the EU, among the Commonwealth of Independent States, as the bilateral Partnership and Cooperation Agreement that was concluded in 1995, has not been ratified by the EU for political reasons. On top of that, Belarus is not a member of the World Trade Organisation (WTO) yet. Continue reading The EU Is Encouraging Belarus to Join the World Trade Organisation
Belarus stands out as a special case in transition blending. On one hand, there are the signs of relative prosperity, the socially oriented policies and the buds of entrepreneurship and then, on the other hand, its remnants of the Communist past. Belarus has embarked on a transition path of its own, different from what is happening in other countries but still delivering a particular path to economic transformation. Continue reading The Belarusian Economy: The Challenges of Stalled Reforms
Belarus wants to be a link between the European Union and the Eurasian Economic Union. It is using its geographic location and economic advantages to attract more foreign investors. One of the key advantages is its pool of young specialists.
Sergei Popkov, Belarusian minister of Communications and Informatisation, spoke to Nikodem Chinowski. They discussed the government’s priorities for the implementation of internet solutions to business and the rapid dissemination of internet access among young Belarusians. Continue reading “e-Belarus”: Embracing the Internet and its Possibilities