OREANDA-NEWS. October 2, 2009. In 2009 Belarus plans to attract Br50 trillion worth of investment, Deputy Economy Minister Vladimir Adashkevich said at the First International Economy Forum in Grodno.

Capital investments amounted to Br37.2 trillion last year. Vladimir Adashkevich noted that for the past ten years Belarus’ GDP has doubled, the industrial production increased 2.5 times, capital investments tripled. In view of the crisis the industrial production made up 95.4% in January-August 2009, export fell down to 56% in January-July. Yet, the growth of capital investments remains at the same level: in 2008 capital investments were up by 23%, in 2009 by 17%.

Vladimir Adashkevich stressed that the conditions for investors are very good in Belarus and are being improved. The decree “On creating additional conditions for investment activity in the Republic of Belarus” will come into force on 7 November. It will introduce a three-level system of signing investment contracts. Belarus has introduced the institute of investment agents, preference zones (free economic zones and High-Tech Park, a system of preferences for doing business in rural areas and small towns).

By the end of 2010 some 503 large companies will be given into private ownership. Foreign investors are invited to take part in the economic activity of 146 joint stock companies with a share of state capital, including such major enterprises as Minsk Engine Works, Minsk Automobile Plant, Minsk Bearing Plant, Alesya, Barkhim and other companies.

According to the Deputy Economy Minister, the most promising investment areas include logistics and transport infrastructure. Some 18 investment projects will be implemented in Belarus in line with the logistics development programme.

Despite the crisis, Belarus did not lose positions in sovereign credit rating. At present the country is ranked 52nd in the list of 183 states with best doing business conditions. Over the seven years, the number of companies with foreign capital more than doubled. Today Belarus has 2,700 joint ventures and 2,200 foreign companies. In H1 2009, \\$4.2 billion was invested in Belarus; of them \\$2.4 billion was direct investments.

Vladimir Adashkevich informed that in December 2009, an international investment and economic forum will be held in Minsk.

The First International Investment Forum “Grodno, a city at the border crossroads” is held in Grodno on 30 September – 2 October. Attending the forum are representatives of the High-Tech Park, scientists, heads of administrations of Grodno twin-towns and representatives of business communities from Russia, Poland, Lithuania, Estonia, Germany, and Finland.