OREANDA-NEWS. October 26, 2010. Belarus is working on amendments to presidential decree #10 on facilitation of foreign investments in Belarus to expand preferences for foreign investors, the head of the investments department with the Economy Ministry, Sergei Trofimovich, told.

“We are preparing a number of documents and regulatory acts following recommendations of the World Bank and the IFC. We have prepared and submitted to the government a new version of the Investment Code. We are getting ready with amendments to decree #10 to further expand preferences offered to foreign investors,” Trofimovich said.

The decree resulted in a substantial number of new investment agreements, Trofimovich said. “Only seven investment agreement had been concluded in Belarus prior to the decree, and 255 have been signed since then, totaling USD 11 billion. Almost 70% of all contracts have been signed with Belarusian residents, and many of them are small projects – logistical centers, roadside service facilities, etc., however, they are crucial for the country,” he said.