Singapore invited to partake in Belarus upgrade projects

Belarus invites Singaporean business to take part in its modernization projects regarding big petrochemical companies and creation of pharmaceutical companies, First Vice Premier of Belarus Vladimir Semashko told media on 22 March.

The official made an accent on the factors speaking in favor of Belarus’ attractiveness for investing. In his words, the main factors include its knowledge-content economy, favorable doing business conditions, geographical advantages and a competitive, highly-qualified and disciplined workforce potential. He stressed that the Belarusian economy is open to foreign investors and privatization, the country offers simple registration and doing business procedures. Belarus’ strategy is ambitious, to join the top 30 in congenial investment climate in 2015, the First Vice Premier noted. Today Belarus is 58th among 185 countries. Belarus is among the most active reformers. “Our country is ready to use the most advanced forms of investment: from setting up foreign and joint companies to concession agreements,” Vladimir Semashko said. He added that high-technology companies are subject to concessional taxation and concessional lending.

“I am confident that contacts during this business forum will help find loads of opportunities for mutually beneficial cooperation. The government will do its best to make Belarus the best place for Singapore to start business here,” Vladimir Semashko said.