Belarus’ future in economy of knowledge, innovations

Belarus sees its future in the economy based on knowledge and innovations. The statement was made by Prime Minister of Belarus Mikhail Myasnikovich at the opening of the first Belarusian-American investment forum in New York on 22 September, BelTA has learned.

“We see our future in the economy of knowledge and innovations. At present the level of competition is very high. We favor a real open economy and put consistent efforts into achieving that,” stated the Prime Minister.

Mikhail Myasnikovich underlined that for the sake of promoting cooperation both with American investors and foreign investors on the whole Belarus is ready to enable all the necessary conditions while expecting mutually beneficial cooperation in return.

Speaking about advantages of investing in Belarus, the Prime Minister mentioned several considerations. In particular, he mentioned the high human capital and the availability of qualified workforce, the advantageous geographical position with access to the Eurasian Economic Union market. The advantages also include a well-developed infrastructure, European standards in legislation, and rather liberal taxation. Mikhail Myasnikovich emphasized the country's political stability and the high responsibility the state practices with regard to its own commitments. “We work hard and would like to work even harder with the IMF, the World Bank group. Belarus always honors its commitments honestly and in good faith,” said the Prime Minister.

Mikhail Myasnikovich also made some comments with regard to statements that say that privatization is one of the most troublesome aspects of doing business in Belarus. The Prime Minister remarked that in line with Belarusian laws any state-run enterprise can be privatized and converted into a joint-stock company. He expressed readiness to discuss possibilities in this area in detail provided there are concrete proposals and a real interest on the part of investors.