Conditions emancipate entrepreneurial spirit

Polotsk named Best City for Doing Business in Belarus

By Galina Gubanova

In total, around 70 Belarusian towns and cities took part in the contest, with Polotsk earning the right to host an international investment forum which aims to inspire regional development. According to Valery Prokhorov, Director of Polotsk’s Entrepreneurship Support Centre, the victory was no accident. The city operates a reliable system of consultative support for all small and medium-sized businesses (from registration to liquidation). Moreover, upwards of 3,000 individual entrepreneurs successfully work in the city, alongside around 1,000 small and medium-sized enterprises. These ensure a third of all city budget revenue, while accounting for 84 percent of service exports.

The inflow of investors wishing to invest in city development recently increased and, by the time of the international forum (to be held in Polotsk in late May), six new promising investment projects will have been prepared. These include the construction of Polotsk’s own ‘Disneyland’ and a chain of hotels, in addition to infrastructure development near Polotsk’s Saviour and St. Yevfrosiniya Convent and St. Sophia Cathedral.

In line with the regional development programme, the construction of a small business incubator is to begin in H1 2011, further promoting the city’s investment attractiveness.

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