| KEY FACTS ABOUT BELARUS | |||||
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An introduction in facts and figures to this landlocked country in the north-east of EuropeOfficial Name Republic of Belarus President of Belarus Alexander Lukashenko(1994 — present ) Prime Minister of BelarusSergey Sidorsky (2003) Total land area of Belarus207,600 km² Nationality of BelarusPopulation — 9.7 million
Regional centresof Belarus: Brest- 316,400 inhabitants
Belarusian and Russian National holidays in BelarusIndependence Day, 3 July Currency of BelarusBelarusian rouble (Br) Economic indicatorsGNP (2009) Br136790 billion; per capita: Br14153thousand Commodity structure of export (2009):
Commodity structure of import (2009):
8944.7 thousands hectares (2008) AgricultureAreas of speciality in agriculture: grain, potatoes, vegetables, sugar beet, flax, meat and dairy industry Natural resources
4.7 million (2009) Distribution of employed population across key economic sectors:
Business in Belarus Whether you intend torelocate your businessto Belarus or plan todo businessthere, Belarus has much to offer any size of company and a vast number of sectors. Thebusiness environmentis strong, and with a large focus on the industrial sector there is a wealth of opportunity forinvestment. Explore more aboutlegal requirementsand Belarusiancustoms and etiquetteand find theright contactshould you want to take the next step anddo business in Belarus Why locate your business in Belarus? Foreign investment and trade with Belarus has risen 8-fold since 2002, and there are now more than 4000 joint venture and foreign enterprises in Belarus. Currently the main trading partners are:
There are many reasons for such an increase in the number of international companies in Belarus. The main attractions are:
Belarus, on the eastern border of Europe, is strategically well positioned as a major trading route between Europe and the CIS.
In turbulent economic times, the Belarus economy has been less affected than those which rely on global markets. Market analysts predict a robust growth for the economy of Belarus.
Measures to encourage business include Free Economic Zones, a High Technology Centre and special tax incentives for businesses operating in rural areas or small towns. Investment regulations have improved considerably in recent years too. Belarus has also been named in the top 10 for regulatory reform in the World Bank and IFC reportDoing Business 2009
Almost 50% of workers in Belarus have ahigher education
Currently around a third of the Belarus GDP comes from the industrial sector. What issues do you need to consider before setting up business in Belarus?As with any new market, it's vital to do your research before embarking on any business venture in Belarus. As well as researching your market sector you should also find out about: What issues do you need to consider before setting up business in Belarus?As with any new market, it's vital to do your research before embarking on any business venture in Belarus. As well as researching your market sector you should also find out about: Where can you get further help and advice?The Belarusian government is committed to attracting direct foreign investment and promoting international trade. Several bodies and ministries are available to providehelp and assistance to foreign investors. A number of international law and accountancy firms have offices in Belarus. There are also several commercial organisations in Belarus that specialise in helping foreign companies enter the market. Investing in BelarusBelarusian and German businessmen participate in the Investment in Business and Regional Development Forum An overview of the benefits of investing in Belarus, the business environment, and the organisations that can support your Belarus trade initiative… Why should you invest in Belarus? Belarus today is an attractive prospect for potential investors. The many benefits for investors include:
Read more about the benefits of investing in Belarus How about economics in Belarus? Are the banks in Belarus reliable? Since Belarus gained independence from the Soviet Union in 1991, the country has seen steady economic growth, particularly in recent years. Belarusian banks offers a wide range of services. Special attention is turned to lending to people, investment projects, housing construction, assistance of the agricultural industry. The bulk of the capital of the banking system (nearly 85%) is in five system-forming banks — Belagroprombank, Belarusbank, Priorbank, Belpromstroibank, Belinvestbank. Founded in 1991, the National Bank of the Republic of Belarus is the major part of the country's banking system. It is based on the Constitution of the Republic of Belarus, the Banking Code, etc. Its management bodies are the Board of Directors (its chairman and members are appointed by the President of Belarus) and the Council of Directors. The National Bank represents the country in the international organizations on the issues under its competence, has a right to participate in the activity of the international banking funds and associations, open representative offices in other countries. Commercial banks in Belarus operate with a degree of autonomy, and many foreign banks are also represented in the country. Belarus is a member ofseveral key international organisations:
Read more about the economic background in BelarusAre there any examples of successful investment projects in Belarus? Yes. International companies in Belarus have been involved in numerous successful investment projects, contributing significant revenues and infrastructure improvements to the Belarusian economy. More about organisations that can help you invest in Belarus Investment Policy Review Republic of Belarus | |||||
