Setting up investment promotion agencies has become so popular in every corner of the world, that 20 years ago an afford was made to establish a world association of agencies of that kind (WAIPA). Obviously, in some countries they have been fostering investment activities for more than 20 years, and over the time it has become clearer for investors, what such institutions can do for them.
It wasn’t long ago when the National Agency of Investment and Privatization (NAIP) was established. Still, 5 years were quite enough to lay down the foundations of future investment attractiveness of the country by means of establishing trustworthy relations between the government and business sector.
“In order to establish business relations and promote our projects we have organized a big number of forums, conferences, seminars, bilateral meetings with companies coming from different countries” – noted Director of NAIP Natallia Nikandrava.
Attracting good foreign investments is a matter of high priority for Belarus. Investors are assisted throughout the whole period of implementing a project on the territory of the country. It is very important for the Agency to both establish the initial contact, which includes collecting the information about possible interests and leading the dialog on the operational level, and to give the necessary support to the company afterwards. That is why postinvestment support – or AfterCare, as we call it – one of the main areas of NAIP activity.
According to the world statistic data, around 80% of global investment made, is reinvestment. Such companies should be treated well and offered any kind of support, because they tend to reinvest, if any problem is approached and solved quickly.
“We are trying to be a convenient, modern and effective platform for cooperation with investment society, – says NAIP’s Director. – Today every investor can come to the Agency with any kind of problems or questions they may have. We offer our support in search for partners and co-investors, selection of suitable land plots, real estate, or investment projects ready to implement. In case any complicated situations occur, investor can contact the Agency as well. We are trying to help companies, which already do their business in Belarus, and solve their problems without taking the matter to court, in other words, we perform the duties of an investment ombudsman, as there is none in our country. And I would like to put a special emphasis on the fact, that all our services are free of charge for foreign investors”.