By Vitaly Volyanyuk
The first Belarusian Investment Forum in London coincided with the height of the global crisis. Meanwhile, this year’s event in Frankfurt-am-Main has been organised just as Europe and the rest of the world is overcoming the recession. More financial resources are now available, bringing a greater likelihood of concrete results.
During the Forum’s opening, Prime Minister Sergei Sidorsky explained in detail why it is profitable to invest in Belarus: our high pace of GDP growth, successful overcoming of the crisis, a stable banking system and an advantageous transit position. Special emphasis was placed on the Customs Union of Belarus, Kazakhstan and Russia, which is aiding transit transportation volumes and other possibilities. Moreover, legislation is being prepared to establish a single economic space from January 2012.
Klaus Mangold, Chairman of the Committee on Eastern European Economic Relations, believes that it’s worth investing into Belarus. Those in Germany believe plans for the country’s economic development are ambitious.
Over 800 representatives from 36 countries took part in the Belarusian Investment Forum, representing over 160 investment projects, worth over $14bn. Pleasingly, 22 agreements and protocols on intentions were signed at the Forum in Frankfurt-am-Main, worth $2.7bn. According to Mr. Sidorsky, these refer to the development of the Belarusian economy — with the participation of German capital and with money from other EU states.