Belarus in 2010 plans to attract 5.6 billion dollars of foreign investment to implement investment projects, including 2.8 billion dollars — to fixed capital. It was reported by the Deputy Economy Minister of Belarus, Andrei Tur. "To implement the task of attracting foreign investment there were make taken a number of decrees in the country", Deputy Head of Ministry of Economy said.
According to Andrei Tur, there was formed a list of investment projects for foreign investment, the suitable indicators have been informed to state institutions.
Speaking about the situation with investment in fixed capital, Andrei Tur noted that «traditionally, this parameter in Belarus was high (for the previous four years, Belarus has ensured five-year investment growth ahead of time), but this year, the situation is more complicated, it’s affected by the financial crisis, what reduced investment opportunities of companies and organizations».
«In this situation, Ministry of Economy as a strategic way considers the need to increase foreign investment», Andrei Tur said. «There is a movement in that direction. So, for the first quarter of this year, foreign investment’s volume in Belarus increased by 1.4 times over the same period of last year. Their share in total amount of investment is also increased (up to 6.7%).
«New approaches are applied in development of investment processes. It is about creating favourable environment for potential investors dealing with new tech areas», BelTA quotes the deputy minister.
According to the deputy head of Ministry of Economy, to improve the investment climate in Belarus it is aimed the perfection of investment legislation. «Currently, we are working on a new version of the Investment Code of Belarus consulting with specialist of the World Bank and IFC. Adopted the resolution of the government to establish a clear system of investment documents passing to government institutions, which would eliminate red tape and disorganization of certain officials», Andrei Tur recalled.
As an example of major developments in terms of attracting foreign investment Andrei Tur named the creation of Italian industrial districts in Brest region. Ministry’s representative also reminded that China had offered an aid for Belarus in the amount of $ 15 billion for realization of investment projects.
Belarusian oil refineries will process oil from Venezuela, besides the Russian, Tur
Belarusian oil refineries will process oil from Venezuela in addition to the Russian, Deputy Economics Ministry said, adding that it was about four million tons. Andrei Tur reminded that for this year it’s provided to supply 21.5 million tons of Russian oil, including 6.3 million tons without levying customs duties, the remaining oil is subjected to full customs duty.
«However, to ensure break-even work of the refineries, optimal load capacities of Belarusian refineries should be 15.8 million tons, Andrei Tur underlined. «It is 6.3 million tons of duty-free Russian crude oil, 1.7 million tons of Belarusian oil and 7.8 million tones of Russian non-duty free oil. In addition to this oil, Belarus plans to process four million tones of Venezuelan oil».
According to the deputy minister, in the first quarter of this year, Belarusian refineries processed 3.65 million tons of oil. «The workload of refineries in January-March is provided at the level of 65.9%, during that time the domestic market need for oil products in Belarus is ensured. Moreover, the shipment of petroleum products in January-March of this year, over the same period of 2009, amounted to 108.5% on petrol and 122% on diesel fuel», deputy economy minister said.
«It’s ensured the accumulation of the necessary amount of oil for the sowing season», Andrei Tur said, adding that the situation is under control now.
