Decree on business support to encourage investments in Belarus

VITEBSK, 10 May (BelTA) – Decree No. 6 “On stimulating entrepreneurship in the medium-sized and small towns and rural communities” will boost investment activity in rural areas and enhance the economic potential of the regions, Chairman of the Braslav District Executive Committee Sergei Shmatov told BelTA. The decree abolishes customs duties and VAT for goods that are imported to Belarus as equity contributions to companies operating in small towns and the countryside. The move is expected to be an efficient incentive for setting up new production facilities and creating new jobs. Tax preferences will also encourage private initiative. The Braslav District Executive Committee is going to run a large-scale awareness raising campaign among local businessmen and foreign partners to educate them about the decree and other measures of government support for business. In June the district will play host to an investment forum featuring 17 delegations from Russia, Latvia, Lithuania, Poland, Estonia, Venezuela and Ukraine. Investors will receive extensive information about new business opportunities in Belarus offered by the decree.

БЕЛТА