OREANDA-NEWS. April 21, 2010. The adoption of Directive No 4 will contribute to raising the investment attractiveness of the Belarusian economy and will also allow domestic businessmen to step up their operation. The opinion was voiced by Deputy Chairman of the Gomel Oblast Executive Committee Boleslav Pirshtuk as he commented on the Belarus President’s address to the nation and the parliament.

“Indeed it is now time to truly emancipate the business initiative,” said Boleslav Pirshtuk.

According to the official, the strategy for further liberalization of the economy is justified by the results generated by the measures Belarus has taken lately to encourage private businesses. In particular, in January-March 2010 fixed-capital investments by juridical persons without departmental affiliation increased by 40% in comparison with the same period of last year in the Gomel oblast. Meanwhile fixed-capital investments of municipal enterprises increased by 11% only. Respectively the consumer goods production went up by 14.5% and 12%. These tendencies are also confirmed by a 13% increase in trade volume where private business plays an important role.

“It would be desirable for the document to lay down clear rules of working with foreign investors, especially big businesses,” remarked Boleslav Pirshtuk. The thing is that the oblast authorities cannot make decisions on major projects taking into account national interests. But it takes so much time to get decisions through ministries and government agencies that “investors literally run out of patience and we lose promising projects,” said the Deputy Chairman of the Gomel Oblast Executive Committee.