OREANDA-NEWS. August 10, 2009. The introduction of a new institutional tool for carrying out investment activities, investment agents, will allow Belarus to establish more flexible approach to work with investors, Sergei Trofimovich, head of the investment department of the Belarusian Economy Ministry, told reporters on 7 August.

According to him, the work of the investment agents is an international practice. The same mechanism will be introduced in Belarus. A natural person or a legal entity skilled in the investment activity will be granted the right to represent the interests of Belarus in the work with a foreign investor. “There are many big businessmen who may agree implementation of projects with concrete investment institutions faster than other state bodies. I believe that the work of investment agents will help our governmental bodies and executive committees establish more flexible approach to attract investments,” Sergei Trofimovich said.

According to him, one of the German concerns has already proposed the Belarusian side to become its investment agent. The same proposal was made in Israel as well.

BelTA reported earlier, in line with decree No413 ‘On Providing Authority to Natural Persons and Legal Entities to Represent Interests of the Republic of Belarus in attracting Investment to the Republic of Belarus’, Belarus introduces a new institutional tool for carrying out investment activities, investment agents.

According to the document, an investment agent can be either a natural person or a legal entity, including a non-resident of the Republic of Belarus. The status of an investment agent can be granted to individuals skilled in preparation of investment projects and possessing the personal qualities enabling them to engage in negotiations with top management of big companies.

Any state administration body and any state-run organisation can submit a proposal for granting the status of an investment agent to a specific individual. Such a proposal can also come from any oblast executive committee (and the Minsk City Executive Committee) on the basis of an application submitted there by a potential investment agent.

The decision on giving the authority of an investment agent to represent interests of the Republic of Belarus will be taken by the Government.