Positive signal to serious investors

Prime Minister Mikhail Myasnikovich meets representatives of World Bank Group

By Vasily Belynichev

The International Finance Corporation has developed a programme to improve Belarus’ investment climate. On meeting Mr. Myasnikovich, IFC representatives stressed that they fully support the country’s efforts to improve its investment climate and are ready to continue co-operation. In their opinion, work with the Belarusian Government regarding the creation of a favourable investment climate could attract new investors into the country.

Mr. Myasnikovich expressed interest in IFC recommendations regarding how best to improve the investment climate and enhance the Belarusian economy’s competitiveness. In his view, co-ordination on this issue should create good conditions for the attraction of foreign investments and send positive signals to the international community. In 1992, he signed a document on co-operation between Belarus and the IFC, in Washington. Since 1993, the Corporation has actively supported the country in developing its investment field and has injected over $320m into various projects. The Head of the IFC Office in Belarus, Max Yacoub, has promised to increase these investments in coming years.

According to Mr. Myasnikovich, the meeting was a wonderful opportunity to discuss how best to enhance the Belarusian economy’s competitiveness. The PM noted that he has carefully studied a letter sent by the IFC, agreeing with its major points. Belarus is already creating infrastructure to develop privatisation and attract investments. It will primarily include the National Investment and Privatisation Agency. Mr. Myasnikovich is convinced that this will aid the active promotion of Belarus to investors.

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