Belarus’ govt considers extra support for business in 2021-2025 – Economy Ministry
<p> MINSK, Nov 16 - PrimePress. The government of Belarus plans additional measures to support business. They will be part of the national socio-economic development program for 2021-2025, Economy Minister of Belarus Alexander Cherviakov said on November 16, 2020 at the ceremony of the opening of the World Entrepreneurship Week. </p> <p> </p> <p> According to the minister, the private sector generates over 50% of gross value added, around 60% of all revenues and more than 47% of total commodity exports, provides jobs for a half of the employable population. </p> <p> </p> <p> The draft socio-economic development program for 2021-2025 will include a number of measures aimed at increasing the attractiveness of Belarus’ jurisdiction for business, in particular, additional guarantees of protection of rights of conscientious businesses and investors and economic decriminalization. </p> <p> </p> <p> “This will be done alongside updated state support measures, protective and incentive measures for capital investments, commercialization of innovative developments, comprehensive digitalization, and creation of infrastructure in all regions,” BelTA state newswire quotes Cherviakov as saying. </p> <p> </p> <p> Also, Belarus plans to apply regulatory impact assessment, public-private partnerships, self-regulation of business, guarantee and venture funds, and long-term money through financial market development. </p> <p> </p> <p> The government also plans to abolish the financial threshold for access to export support instruments (the minimum size of export credit currently stands at $200,000 in equivalent), and to raise it both in terms of trade transactions and participation of companies in exhibitions. </p> <p> </p> <p> The Economy Ministry is going to transit to a full-fledged sectoral policy, i.e. the ministry will facilitate development of enterprises of all forms of ownership in this type of activity and the entire industry, the minister said. </p> <p> </p> <p> In his opinion, this would create conditions for business restructuring, transition to the lines of business that prove sustainable amid the pandemic, provide an opportunity to invest in modern production, in particular in the areas of electric transport, high-tech medicine and pharmaceutics, biotechnology, precision agriculture, industrial Internet, new composite materials, and the large data use. </p> <p> </p> <p> The government also plans to stimulate advanced processing of local raw materials (timber, flax, peat, fruits, vegetables, berries, wild plants, etc.). End </p>
2020-11-16
Primepress
MINSK, Nov 16 - PrimePress. The government of Belarus plans additional measures to support business. They will be part of the national socio-economic development program for 2021-2025, Economy Minister of Belarus Alexander Cherviakov said on November 16, 2020 at the ceremony of the opening of the World Entrepreneurship Week.
According to the minister, the private sector generates over 50% of gross value added, around 60% of all revenues and more than 47% of total commodity exports, provides jobs for a half of the employable population.
The draft socio-economic development program for 2021-2025 will include a number of measures aimed at increasing the attractiveness of Belarus’ jurisdiction for business, in particular, additional guarantees of protection of rights of conscientious businesses and investors and economic decriminalization.
“This will be done alongside updated state support measures, protective and incentive measures for capital investments, commercialization of innovative developments, comprehensive digitalization, and creation of infrastructure in all regions,” BelTA state newswire quotes Cherviakov as saying.
Also, Belarus plans to apply regulatory impact assessment, public-private partnerships, self-regulation of business, guarantee and venture funds, and long-term money through financial market development.
The government also plans to abolish the financial threshold for access to export support instruments (the minimum size of export credit currently stands at $200,000 in equivalent), and to raise it both in terms of trade transactions and participation of companies in exhibitions.
The Economy Ministry is going to transit to a full-fledged sectoral policy, i.e. the ministry will facilitate development of enterprises of all forms of ownership in this type of activity and the entire industry, the minister said.
In his opinion, this would create conditions for business restructuring, transition to the lines of business that prove sustainable amid the pandemic, provide an opportunity to invest in modern production, in particular in the areas of electric transport, high-tech medicine and pharmaceutics, biotechnology, precision agriculture, industrial Internet, new composite materials, and the large data use.
The government also plans to stimulate advanced processing of local raw materials (timber, flax, peat, fruits, vegetables, berries, wild plants, etc.). End