Belarus is a smart, reliable and promising destination for the companies seeking a new site in Eastern Europe.
It is smart because one wouldn’t want to choose another place for the business, when having a goal of overcoming trade barriers and confidently stepping into the market of 175 million consumers, as there are numerous opportunities opening up for those doing business with Belarus as a member of the Eurasian Economic Union. They decide to set up here, and not in Russia or Kazakhstan, because Belarus offers greater political stability, less corruption and bureaucracy, as well as a better business environment.
It is reliable as the Belarusian authorities have created a pro-business environment supporting entrepreneurship and foreign investment and they also pursue an active policy of attracting FDI, which provides a smart business answer to the questions posed by foreign investors, who are busy with choosing a site in the region. Belarus has a friendly legal environment which ensures stable regulatory frameworks for those doing business in the country, which is reinforced with more than 60 international agreements on assistance in the mutual protection of investments. According to the National Statistical Committee, in 2013 there were almost 92,600 small and medium-sized companies, more than twice as many as in 2007. Also, the number of registered companies with foreign capital doubled to reach 7,000 in 2013.
And it is promising, since investors still go on emphasising low competition in certain market segments in the country. And to foster the process of producing new goods and services, our country offers special incentives for foreign investors to exploit these opportunities. Besides, Belarus is rich in well-disciplined and highly qualified specialists, along with the average amount of wages across the country remaining rather low in comparison with developed economies, and moreover, with other countries of the region. According to the European Commission, there are about 500,000 students enrolled at Belarus’s 55 higher education institutions each year, an impressive number bearing in mind the country’s relatively small population of about 10 million.
So, on behalf of the National Agency of Investment and Privatisation, I express our gratitude for the interest you take in Belarus and invite you to explore the Emerging Europe portal in order to gather both intelligence and opinions, to look into the opportunities which Belarus provides to foreign businesses, to watch the representatives of the authorities in the video section, to meet us at international events, and of course, I invite you to Belarus! Welcome to discover!
The views expressed in this opinion editorial are the author’s own and do not necessarily reflect Emerging Europe’s editorial policy.