Belarus is open to investing in high-tech manufacturing

MINSK, Nov 22 (BelTA) – Belarus is open to investors interested in starting high-tech companies in the country, Belarusian Economy Minister Aleksandr Chervyakov said at the Belarusian Investment Forum as part of the Belarusian National Day at EXPO 2020 in Dubai on Dec. November, BelTA learned.

Aleksandr Chervyakov gave five reasons why foreign investors choose Belarus for their projects. “The first is the country’s advantageous geographic location. Belarus lies at the crossroads of trade routes from Russia and Asia to Europe, as well as between the countries of the Baltic and Black Sea regions. If we draw a circle with a radius of about 2,000 kilometers, with Minsk in the middle, we see that a quarter of the world’s GDP is produced within its borders, ”he said.

The second reason is membership in the Eurasian Economic Union. “Goods manufactured in Belarus have free access to the 180 million euro market of the EAEU as well as to the countries with which it has free trade agreements,” added the minister.

The third reason is high human capital. “According to the World Bank index, Belarus ranks 36th out of 174 countries in terms of human capital potential, which confirms the country’s high level of health, education and skills. The higher education system effectively meets the needs of the economy for qualified personnel. Now there are more than 250,000 students in Belarusian universities, 30,000 of them are foreigners, ”he explained.

The fourth is the resource potential. “Belarus covers more than 18% of the global demand for potash fertilizers as well as wood processing and agricultural companies with their own raw materials. The key resource is unique nature. Clean air and water help the country create conditions for the production of environmentally friendly products and develop medical tourism, ”said the minister.

The last point, of course, is the country’s investment climate. “Almost the entire territory of the country has effectively functioning preferential regimes. Companies can reduce investment costs and tax burdens by locating their operations in free economic zones, the High-Tech Park and the Great Stone Industrial Park, within small and medium-sized cities. The most important thing in our investment policy is trust on a governmental, corporate and, of course, human level. Without trust there is no investment ”, emphasized Aleksandr Chervyakov.

These are just some of the options the country has, the Minister of Economic Affairs summarized. “We see prospects for cooperation in the areas of instrument construction, light industry, building material production, agro-industrial complex, logistics and communication. Belarusian products are used underground, on the ground, in the air and in space. We are open to all investors who want to set up modern high-tech companies in our country, ”he said.

Belarusian National Day and Belarusian Investment Forum at EXPO 2020 in Dubai opened on November 22nd. The events are organized by the National Agency for Investment and Privatization in cooperation with the Belarusian Chamber of Commerce and Industry and the National Marketing Center.

The main objective of the forum was to bring together professionals and high-level representatives from the private and public sectors on one platform to discuss current challenges and new investment opportunities. The geography of the participants included 15 countries, most of which came from the Persian Gulf states.

The program of the event included a plenary session with presentations by keynote speakers and specialist bodies: the Belarusian-Emirati economic forum in the form of a contact and cooperation exchange, a round table with representatives of international investment funds, a meeting to sign memoranda and agreements, negotiations and consultations between Arab businessmen and the national Investment and Privatization Agency and other forum participants.

About 150 people took part in the forum. These included owners and top managers from companies from the United Arab Emirates, Turkey, Pakistan, Egypt, and investment funds from the United Arab Emirates, Qatar and Oman. Belarus was represented by the administration of the Great Stone Industrial Park, Hi-Tech Park, investment advisors and others.

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