Investors will now look at Minsk even closer. After all, recently, Belarus received two awards in France's Cannes. Minsk was included in two prestigious rankings: second place in the major European cities on the effectiveness of the cost of doing business, as well as in the top 10 largest cities with the best strategy to attract FDI.
Minsk is a truly global center of attraction of investment and business activity. Business centers, shopping areas, sports facilities, hotels and residential real estate. 80% of all investments of the country is concentrated in the capital. It is here where some of the most ambitious projects in Eastern Europe have been implemented in recent years. Minsk, with its investment, is a city of great opportunities.
Advantageous geographical location, logistics, personnel and scientific potential. Minsk is the largest transportation hub with an extensive network of roads and railways. These are not all the advantages that shape the business environment of the city. It is hard to count them all. And this is the result of a great many years of work, thanks to which Minsk is increasingly recognized in the world as one of the most comfortable for business hubs.
Andrei Shorets, Minsk Mayor:
We are pleased that Financial Times estimated the work of the city and of the whole country aiming to attract investment, create a favorable environment. The city is becoming more open, attractive, recognizable, and we will do everything possible so that both tourists and businessmen come to us in even greater numbers.
The “influx” of businesses in recent years has increased several times. This is confirmed by figures. $859 million was invested in the capital by foreign businessmen in 2015 alone. Today, the city is implementing more than fifty investment projects.
Kirill Ozerov, investor (UK):
Of course, we have plans now on several objects, with which we will continue our investment activities in the Republic of Belarus. We are discussing with our partners only Minsk.
Minsk, indeed, offers very favorable conditions for cooperation. The investment climate in the city has become significantly warmer. And this is thanks to decree of the President No10.
Zhanna Birich, Deputy Chairwoman of the Minsk City Executive Committee:
Decree No.10 made it possible to quickly commission objects, because it provided parallel construction and design. One of the important economic preferences is that rent for land is not paid. Neither must one pay for the land registration right. This is a large sum. And it made it possible to attract foreign investment.
Now the city focuses on innovative production, providing platform for such businesses in the free economic zone, which provides an opportunity to use favorable conditions. At present, FEZ enterprises' capital belongs to 20 countries among which are Russia, Cyprus, Estonia, Latvia, and the USA. Since the establishment of the FEZ the resident companies have built 34 factories. Today, they already have leading positions in the markets. Their products gained popularity and is being exported to 59 countries.
The industrial potential of the capital is really considerable. At the same time, as investment attractiveness of Minsk increased more business opportunities arise.
Daniel Krutzinna, managing partner of an international consulting company:
This city is quite lively, and there are very many niches for investors. Minsk has good chances to get into the top 500 cities in the world in terms of innovation potential. And we have these examples are.
More and more countries are seeking to invest their capital in Minsk. Gary Burrows' company is no stranger in Belarus' development market. It has implemented several projects. The biggest one is the famous Minsk World. The total built-up area is 300 hectares. The volume of investments is $3.5 billion. In 10 years, there will be built a true international financial center, which will help to attract additional money capital. Minsk World may contribute to the GBP growth of Belarus by 6-7% per year. Offices, nearly 3 million square meters of housing, shops and hotels. About 35,000 people will get residence here. It will provide jobs for 27,000 Belarusians.
Gary Burrows, head of asset management of a real estate development company:
We have been working over 10 years in Minsk and we believe that the Belarusian authorities are very open and always ready for dialogue. They support our projects, especially in real estate, they are quite flexible and tend to apply new methods of work and implement European approaches.
There are still lots of blank pages in the “investment annals” of Minsk. And only time will answer who will go down in the history. But, obviously, the capital is waiting for many more interesting projects.
Source: ctv.by