Hopes surely pinned on business
Council of Ministers approves state programme for small and medium-sized entrepreneurship for next five years
The state programme aims to develop small and medium-sized entrepreneurship, working towards a high level of employment and steady economic growth. Accordingly, it focuses on improving the business environment, on assisting the development of small and medium-sized businesses, on improving the infrastructure of support, and promoting a positive attitude towards entrepreneurial initiative.
By 2020, gross value added by small and medium-sized businesses should reach 32 percent of the total, while such businesses should employ around 35 percent of the total number of citizens in Belarus. It is also hoped to raise Belarus’ ranking in the World Bank’s Doing Business report. This year, the country was ranked 44th, ahead of Russia and Kyrgyzstan, yet behind Armenia and Kazakhstan (among EAEU partners).
In order to make business in Belarus more attractive, the number of start-up procedures is being streamlined, including relating to construction permits, gaining access to electricity, and property registration. Document processing at the border is also receiving attention, to reduce costs and speed up procedure. Other aspects include enforcing contracts, resolving insolvency, giving access to credit and ease of paying taxes. The new programme will enter into force after its official publication.
By Vladislav Veremeev
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