Belarus works on new state mechanism to promote business in regions

According to him, the economy ministry has worked out the corresponding draft decree on state financial support. To give an additional impetus to the implementation of investment projects in the regions, budget transfers will be provided, paid after the completion of the project. Their size will be determined depending on the level of development and specialization of the region in which the project is being implemented: from 10% of the amount of capital costs - for cities with a population of over 80,000, to up to 35% - in agricultural regions.

The draft law “On assisting and promoting investment projects in the Republic of Belarus” is almost ready for adoption. “The document establishes measures of state support for business initiatives both within the framework of investment agreements and without their conclusion. Contractual relations with the provision of an expanded package of benefits and preferences will affect large projects in priority sectors of the economy,” Yuri Chebotar explained.

According to him, the development of regions will be facilitated by a simplified mechanism for the implementation of investment projects - by decision of local authorities. Oblast executive committees from the list established by the Council of Ministers, taking into account the specifics and potential of the territories, will determine priority activities for investment. Benefits and preferences will be granted at the construction stage of the facility.

Another novelty is the purchase by the state of a part of the products made by the investor. Plans are in place to conclude such contracts on a competitive basis.