OREANDA-NEWS. May 27, 2010. The official institution National Agency for Investments and Privatization will be created in Belarus. The Belarus President signed relevant decree No 273 on 25 May, the press service of the head said.

The new agency will specialize in comprehensive support for investors, primarily foreign ones.

The agency will be created out of the existing National Investment Agency, which is run by the Economy Ministry.

The National Agency for Investments and Privatization will focus on attracting investments to Belarus, including investments for privatizing state property.

The agency will be accountable to the government and will be controlled by a supervisory board. The latter will coordinate and audit the operation of the agency. The National Agency for Investments and Privatization will represent government interests in matters relating to attracting investments to Belarus, including the privatization of state property.

The new status will enable the agency to cooperate with government agencies in full, to ensure quality and timely interaction between investors and regional administration bodies, to become the “one stop shop” for investors regardless of the way they arrive in Belarus. It will also increase the effectiveness of privatization processes in the country and the attraction of investments into the Belarusian economy.