Direct Foreign Investment to Amount to $6.5 Billion, Ministry of Economy

25.11.2010 15:43

Belarusian Ministry of Economy predicts that Belarus will get about $6.5 billion of direct foreign investment on a net basis in 2011. As reported by Deputy Economy Minister Dmitri Holuhov on November 25, such an indicator is provided by the decree № 596, approving the major parameters of socio-economic development of Belarus for the next year.

According to Deputy Minister of Economy, direct foreign investments on a net basis determine the possibility of financing of the current account balance by attracting direct foreign investment as a source. Dmitri Holuhov stressed that these investments are not considered as a tool to «fill the gap,» but as an instrument for attracting resources into the country, BelTA informs.

According to the representative of the Economy Ministry, net direct foreign investments in Belarus have amounted to approximately $2 billion over the past few years per annum. «Therefore, the figures, designated in the decree, support our ambitious plans to a fairly reasonable extant,» Dmitri Holuhov said.

Above Br 1 Trillion to be Allocated on Investment Projects in Minsk

However, according to the  the investment program, approved by Minsk city council on November 25, 2010, more than Br1 trillion is planned to allocate for the implementation of investment projects in Minsk in 2011.

Acting Chairman of the Committee of Construction and Investment of Minsk city executive committee Nikolai Butrim  said that the priority of budget financing in 2011 will remain the objects of social sphere, education, health, sports and culture.

The objects of education are likely to take Br182.5 billion, health care facilities — Br317.4 billion, sports — Br326.5 billion, culture — Br139.1 billion.

Nikolai Butrim called the objects, construction of which is delegated by the President of Belarus Alexander Lukashenko, an important direction of investment. They are as follow: the building of the Great Patriotic War Museum at Winners Prospect (Br72 billion), cultural and recreational center at Jakubouski street (Br9 billion), a water park at Winners Prospect (Br81 billion), reconstruction of the building of Minsk Planetarium (Br1.5 billion) and others. Total funding will make about Br450 billion.