The government of Belarus has announced plans to double net foreign direct investment by 2025.
According to a draft of Belarus’s 2035 strategy for FDI, the country aims to attracting 1.5-1.6 billion US dollars by 2020 and at least three billion US dollars by 2025.
During the first phase of the strategy (2019-2020), government experts will discuss and reevaluate the proposal to see if there is a need for improving visa-free access to the country for investors.
The government expects that the 2015 strategy will help Belarus make it into the top 30 countries with the best business climate on the World Bank’s Doing Business Ranking and get it qualified for the Global Competitiveness Index of the World Economic Forum.
The most promising areas for foreign investment are high-tech and knowledge-intensive manufacturing, logistics, transport, digital infrastructure, the financial sphere and the social sector, the Belarusian media reports.
The National Agency for Investment and Privatisation is also expected to play a bigger role. Privatisation decisions will be based on an individual approach to every potential privatisation target, given there is a strategic investor ready to attract new advanced technologies, increase the company’s profitability and the value of its assets,” the draft strategy says.