OREANDA-NEWS. January 22, 2007. Belarus is a very attractive country for foreign investors, and today it’s necessary to take advantage of the increasing interest that foreign businessmen show in projects aimed at the development of the city of Minsk and big regional cities, said President Alexander Lukashenko while visiting the Minsk city hall, reported the Official website http://president.gov.by.

The Head of State was reported on Minsk city development plans, in particular the plan related to the development of Victors’ Avenue. The implementation of Minsk architects’ plans will add an ultra modern twist to the city’s architecture and spruce up the city’s overall look.

According to Viktor Nikitin, the chief architect of Minsk, about two dozens of new buildings will emerge along Victors’ Avenue within five to six years from now. The investments therein are expected to average $ 1,5 billion, including $ 1 billion in the form of foreign investments.

Hotel Belarus will be dismantled and replaced with a new hotel and business centre. Specialists say, today the interior of Hotel Belarus does not meet international requirements, and small rooms of the hotel make it impossible to remodel the building so as to make the hotel more convenient for the guests.

Minsk architects proposed dismantling Hotel Belarus and building a modern-day architectural ensemble of three tower-shaped structures in its place, with two of them housing a five-star 40- to 45-storey hotel complex; the third building will host an A-class business centre meeting all international requirements. Visitors will also find an entertainment centre, a swimming pool, sports facilities, restaurants and other facilities there.

“We already have those who are willing to participate in this investment project. The prospective investor will finance the dismantling of the existing hotel,” said Viktor Nikitin.

According to him, a well-known international hotel-operator Hyatt has already began the construction of a five-star hotel in the vicinity of Lake Komsomolskoye. This will be a 280-room hotel. It is expected to be built in 2 years. The hotel will be no taller than 7 to 8 storeys so as not to block the view of the lake, said Viktor Nikitin. The investments in this project will surpass $ 60 million.

On the whole the Head of State praised the plans of Minsk city administration related to the development of the city.