Belarus offers the Qatar Investment Agency to join the banking sector and to take part in the privatization of the country’s enterprices. It was announced today by Andrei Kobyakov, the Prime Minister of Belarus, on a meeting with Sheikh Abdullah Ben Mohammed Ben Saud Al-Thani, Head of the Qatar Investment Agency, who arrived in Minsk with a working visit from December 1st to December 3rd.
Qatar is considered to be a prospective partner for mutuallly beneficial cooperation development. It is evidenced by positive dynamics of bilateral relations; first of all, it is a high-level visit to Qatar, which was held last month.
“The relations between Belarus and Qatar are developing and getting stronger. For the past few years many examples of fruitful collaboration have been accumulated”, the Prime Minister mentioned. The most significant and successful joint project was the construction with the Qatar Investment Armed Forces Fund of the hotel and sport complex Marriott, in which 200 million US dollars were invested.”
“We also planned to build a medical center in Minsk region. A proper decree on granting the necessary privileges and preferences was signed by the President of Belarus, but due to the fund management changes the project can not be realized. I dare say that we can consider the possibility of cooperation on this project with the Qatar Investment Agency”, Andrei Kobyakov mentioned.
According to the Head of the Belarusian government, a positive role in the development of bilateral cooperation could be played by joining the Qatar capital in the banking sector of Belarus. “We are working to attract strategic investors in two Belarusian banks. These banks are Belarusbank, the largest country bank and Moscow-Minsk Bank. We are ready to discuss the possibilities of cooperation in this case with your Agency as well. Also we have other forms of mutually beneficial cooperation with the Belarusian financial institutions, including the purchase of Belarus’ government securities. Moreover, in 2017 we plan to issue Eurobonds worth 800 million US dollars”, Andrei Kobyakov said.
Andrei Kobyakov also invited the Qatar Investment Agency to take part in the creation of a new production or to invest in already existing ones.
“We are ready to consider the possibility of the Qatar Investment Agency participation in the capital of the largest Belarusian companies. Moreover, we can offer to take part in partial or full privatization of some wood, construction materials, mechanical engineering enterprises. Besides, for the past few years they have been significantly modernized”, the Prime Minister added.
Creation of the Belarusian – Qatari Investment Fund which is established by analogy with the Qatari-Russian Fund can promote implementation of mutually beneficial joint projects. The Development Bank of Belarus is ready to take part in the creation of the Fund and the Qatar Investment Agency could be a partner as well.
The Prime Minister mentioned that all favorable conditions for doing business have been created in Belarus; the country has political and social stability, low level of corruption, well-developed infrastructure. Almost the entire area of the country has various preferential regimes.
“Among all of the Gulf countries, Qatar took the lead in investmenting in the Belarusian economy. We are grateful and we look forward to deepening our cooperation. I am sure that your visit will lay the groundwork to a long-term and mutually beneficial cooperation between Belarus and the Qatar Investment Agency”, Andrei Kobyakov said.
Abdullah Ben Mohammed Ben Saud Al-Thani thanked for the opportunity to hold negotiations in the government and mentiomed that the Qatar Investment Agency is planning to cooperate with Belarus actively and implement joint projects.
In addition to that, today the Head of the Qatar Investment Agency visited the Ministry of Economy of Belarus, where a meeting with the representatives of the Ministry leadership, the director of the National Agency of Investment and Privatization, the Deputy Head of the National Bank and the Chairman of the Development Bank was held. During the meeting, the investment potential of Belarus was represented to the representatives of Qatar.