Market possibilities actively push to action

Luxembourg’s Banque Havilland and BPS-Bank to set up Foreign Direct Investment Fund in Belarus

By Lyudmila Satsenko

Belarus’ Prime Minister, Mikhail Myasnikovich, has agreed the move with bank representatives. “We’re planning to co-operate with BPS-Bank in creating a Foreign Direct Investment (FDI) Fund in the country,” explains Banque Havilland Executive Director Jonathan David Rowland. He also notes that the Belarusian market offers great investment opportunities for the Luxembourg bank and stresses, “We’ll take BPS-Bank’s opinion into account regarding projects which it finds profitable.” The Luxembourg bank has already taken stock of the situation on the Belarusian market and its potential.

In turn, Mr. Myasnikovich notes that Belarus welcomes the arrival of foreign investors and has been working on creating the right conditions. Belarus already attracts an increasing volume of foreign investments and, in 2010, these accounted for $9bn (including $6bn of direct foreign investments). Mr. Myasnikovich is hopeful that, with the arrival of Banque Havilland on the Belarusian market, the process will pick up even further. He reminds investors that Belarus protects and safeguards their rights by law. The Prime Minister adds, “We can address issues of investment activity at state level and at the level of banks, accommodating the interests of the corporate sector. Belarus’ economy is mixed and open, which says it all.”

It is assumed that the FDI Fund will be created using funds from investors who arrive via the London Stock Exchange (ensuring improved liquidity of investment, since shares will be available for sale or purchase at any time). The Fund will support promising companies operating in various sectors of the country’s economy, by placing shares in their stock capital. Among those to be floated are private industrial companies, high-tech and innovative companies, service industries, financial companies, hotels and retail networks. The Fund will help Belarus improve its investment climate, raise export potential, attract foreign specialists in management, and increase tax revenue into the budget.

Banque Havilland is owned by the Rowland family, whose wealth of experience in international investment spans 45 years. The investment activities of the family include Blackfish Capital Management Limited, which offers investment management and advisory services, and they own a portfolio of investment funds.

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