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THE ESSENTIAL
Energy industry investors promised taxation preferences in Belarus

In Belarus energy industry investors will be offered taxation preferences, First Vice Premier of Belarus Vladimir Semashko said at the IV international investment forum in Mogilev on October 9. In his words, the government has prepared two new energy industry bills meant to encourage investments into the industry. They grant taxation preferences for up to 7 years. Investors are expected to recoup their money within five years and use the remaining two years to develop their companies, said Vladimir Semashko.

 

EXPERIENCE OF INVESTMENT PROMOTION AGENCY OF TURKEY CAN PROVE USEFUL FOR BELARUS

The experience of the Investment Support and Promotion Agency of Turkey can prove useful for Belarus, Prime Minister of Belarus Sergei Sidorsky said at a meeting with chief of the agency Alpaslan Korkmaz in Minsk on May 29. “We have invited you to come over to Belarus to discuss several issues of providing support to investment in our country,” Sergei Sidorsky said. According to him, Belarus seeks to get into the list of 30 most attractive investment destinations in the world.

In this connection the experience of the Investment Support and Promotion Agency of Turkey can prove useful for Belarus. The mutual interest of Belarusian and Turkish business has been growing recently.

In turn, Alpaslan Korkmaz said that “we are happy to be in Belarus. For me this is the first visit to Minsk and we have the experience to share with Belarusian businessmen.”

Officials of the agency are scheduled to meet with the chiefs of several ministries of Belarus to discuss relevant issues.

In 2007 more than 200 foreign companies invested in the projects in Belarus.

Turkish businessmen show great interest in Belarus, Head of the Investment Support and Promotion Agency of Turkey Dr. Alpaslan Korkmaz told reporters on May 29.

According to him, during his meting with Belarusian Premier Sergei Sidorsky held on May 29, they discussed the cooperation of Belarus with the Investment Support and Promotion Agency of Turkey and the cooperation between the Belarusian National Investment Agency and the Turkish Investment Agency.

The Investment Support and Promotion Agency of Turkey (ISPAT) is the official organization encouraging and promoting investment in Turkey. The Agency was set up in November 2006. Reporting directly to the Prime Minister, ISPAT’s mandate is to present investment opportunities to members of the global business community and assist them before, during and after their entry to Turkey. The Agency has 2 offices in Turkey and 11 representation offices abroad, namely in China, Germany, France, India, Israel, Italy, Japan, Russia, U.A.E, UK and the USA.

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NEWS
Regions reveal Belarus-Russia cooperation potential

On October 7, Deputy Prime Minister of Belarus Andrei Kobyakov and First Deputy Chairman of Government of the Russian Federation Igor Shuvalov met in the Brest oblast to discuss the issues of further development of the trade and economic relations between Belarus and Russia.

 
Belarus, Ukraine to set up joint ventures in engineering industry

In the near future Belarus and Ukraine intend to set up joint ventures in the engineering industry, First Deputy Prime Minister of Belarus Vladimir Semashko told reporters after the 15th session of the Belarus-Ukraine Intergovernmental Commission for Trade and Economic Cooperation in Kiev on October 7.

Meeting of the Council of Ministers of the Union State

Belarus and Russia should coordinate their efforts in the economic area in the conditions of the global financial crisis, Prime Minister of Belarus Sergei Sidorsky said as he met with Russian Premier Vladimir Putin in the run-up to the session of the Union State Council of Ministers.

 
Trade between Belarus and Ukraine to exceed $5bln in 2008

In 2008, the trade between Belarus and Ukraine will exceed $5 billion, First Deputy Prime Minister of Belarus Vladimir Semashko said. The First Vice Premier is the head of the Belarusian delegation at the 15th session of the Intergovernmental Belarusian-Ukrainian Commission for Trade and Economic Cooperation which is being held in Kiev on October 6-7.

 
Belarus is ready to carry out big projects with participation of European Bank for Reconstruction and Development

Belarus is ready to carry out big projects with the participation of the European Bank for Reconstruction and Development (EBRD), Belarusian Prime Minister Sergei Sidorsky noted during his meeting with Varel Freeman, the EBRD First Vice President.

Austrian capital participates in many key projects in Belarus

Many major projects in Belarus are implemented with the participation of Austrian capital and technologies, Deputy Prime Minister of Belarus Andrei Kobyakov said as he met with Johann Zaks, Director General for Foreign Trade Issues of the Federal Ministry of Economics and Labour of Austria, co-chairman of the Belarusian-Austrian committee on trade and economic cooperation in Minsk on October 2.

Biofuel to be produced in all regions of Belarus

Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.

Belarus downs export oil duty October 1

On October 1, 2008, Belarus will down the crude oil export duty from $495.9 to $372.2 per tonne. The Council of Ministers issued relevant resolution No 1426 of September 27.

 
Belarusian business and expo centre to open in Kazakhstan

A multifunctional trade and logistics centre as well as administration and business and expo centres of the Republic of Belarus will open in Kazakhstan. Their opening was discussed at the fifth session of the Belarusian-Kazakh trade and economic cooperation commission in Astana. The Belarusian delegation was led by Deputy Prime Minister Ivan Bambiza, the Kazakh delegation — Emergencies Minister Vladimir Bozhko, the press service of the Foreign Ministry told BelTA.

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