National Agency for Investment and Privatization in Belarus will speak on behalf of the state and provide services for investors on a pro bono basis. This was reported by the Ministry of Economy, which will also be responsible for investment and privatization in the country.
«The mandate of the Agency is the attraction of foreign direct investments, defined as investments by foreign investors to set up and (or) re-establish legal entities on the territory of the Republic of Belarus, in respect of which investors will have a significant degree of influence or control in determining their decisions,» reported by the Ministry of Economy.
Commenting on Decree № 173 «On amendments and additions to some decrees of the President of the Republic of Belarus» of April 22, 2011, which has changed the status of the National Agency for Investment and Privatization, the Office noted that the main indicator of the effectiveness of the Agency would be an increased inflow of foreign direct investment in the country.
«In order to attract foreign direct investment, agency will have the right to make reasonable proposals for the privatization of public institutions and at the same time act as a body for privatization, acting under an agreement between Belarus and the World Bank, aimed to support the privatization program. The purpose of the agreement is testing the method of «individual approach» as an example of at least 5 companies,» told in the Ministry of Economy.
Thus, creating the agency under the Ministry of Economy, certain organization, designed to act as a «single window» for foreign investors to attract more foreign direct investments in the country, will appear in the country, stated in the department.
