Doing Business in Belarus

Belarus provides extensive business opportunities that remain largely unexplored. Foreign investors are granted privileges, including customs and tax exemptions and benefits, as well as export and import privileges.

According to Sergei Sidorski, Belarusian Prime Minister, total foreign investments in Belarus in 2007 equal US$ 5.4 billion. As of March 1, 2009 4,200 enterprises with foreign capital are registered in Belarus. Today, more than 100 countries including Russia, Austria, Germany, and the USA are investing in Belarus.

Special legal acts regulate foreign investment in Belarus, including:

Investment Code (1998, came into effect in 2001)
Law on Free Economic Zones (1998)

Belarus has signed five basic intergovernmental documents regarding investments, 56 international agreements on assistance in investment implementation and protection, and the same number of international agreements on double taxation avoidance.

According to its 2010 Doing Business report , the World Bank included Belarus into the list of Top 10 Reformers in 2008/2009 and rated as # 58 on its ease of doing business scale.

Leading multinational corporations set up their affiliates or joint ventures in Belarus, including MANN (automobile production), Coca–Cola, MacDonald's, Maersk Medical, SB Telecom, Alcatel SEL (mobile GSM systems and switching systems), and Frezenius (production of medical instruments).

IBA People The cost of living in Belarus is low even if compared with Russia. There are numerous powerful enterprises and plenty of professionals who are willing to do serious business with other countries. Minsk is a safe and comfortable place to live in. However, our biggest asset and most notable advantage are the people — friendly, caring, hardworking, and educated.

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