The new law on investment approved in Belarus will promote better investment climate in the country, Vyacheslav Zhuk, head of the International Finance Corporation (IFC) consultative program “Better business regulation and assistance in investment generation in the Republic of Belarus”, told a briefing held on 6 August to discuss the law.
The IFC took an active part in the preparation of the document. “Experts made the use of the best international practices,” Vyacheslav Zhuk noted. In his words, unlike the present Code the law is more compact.
“It is a step forward in improving the investment climate in Belarus. We hope the law will promote investment in the country’s economy,” the IFC representative said. Read more
source: BelTA
The successful implementation of the law and the principles it specifies can lead to further improvement of the investment climate and a stronger inflow of investments, including foreign ones, into the country’s economy, the expert said. Read more
source: PRIME-TASS
The IFC provided comprehensive aid to the government throughout the preparation of the law, stressed Vyacheslav Zhuk. The expert pointed out several advantages of the law in comparison with the existing Investment Code. In particular, the law is a more compact document and specifies principal guarantees for investors without interfering with their day-to-day operations while leaving the freedom of choice within the framework of the law.
The law specifies the most important guarantees of the rights of investors, including the unhindered extraction of profits (incomes) generated in Belarus by investment activities, the protection of the property of investors against unjustified expropriation, the repayment of fair compensations. Read more
source: BelTA