Belarus set to raise $6.4b worth of FDI in 2011

MINSK, 18 February (BelTA) – Belarus is determined to raise $6.4 billion worth of foreign direct investments in 2011, Deputy Prime Minister of Belarus Sergei Rumas told an extended session of the permanent committee for foreign investments of the Advisory Board of the Council of Ministers of Belarus on 18 February, BelTA has learnt. “In 2011 the country should increase the inflow of capital investments by 16-17%. At least 21% should be foreign investments. To maintain the sustainable economic growth, Belarus needs to raise $6.4 billion worth of foreign direct investments on net basis,” Sergei Rumas said. He emphasized that the attraction of investments to fuel economic growth is one of the country’s priorities. The investment flows should be channeled into the industries and companies that can guarantee competitive and exportable products. According to Sergei Rumas, this requires new approaches to developing investment strategies. To this end, Belarus is working on an innovative strategy to raise foreign direct investments. The strategy will not only show which industry, which region will need an investor and why, but also help establish cooperation links. Sergei Rumas believes that such an approach will help produce import-substituting products by companies with foreign capital and invite individual investors to Belarus to launch the production of certain types of component parts and raw materials. The Vice Premier underlined that Belarus will simultaneously improve the general terms of investment activity to create a favorable environment for all types of businesses.

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