key facts about belarus official name: republic of belarus total land area of belarus: 207,600 km²...
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Key Facts About Belarus
Official Name: Republic of Belarus
Total land area of Belarus: 207,600 km²
Nationality of Belarus: population - 9.465,2 mln
the Capital is Minsk - 1.885,1 mln
Languages: Belarusian, Russian
Regional centers of Belarus: Grodno, Vitebsk,
Mogilev, Gomel, BrestCurrency: Belarusian
Rouble (Br)
Main Business Partners
Russia Ukraine the Netherlands
Germany China Poland
Venezuela Brazil
LatviaItaly
Main Branches of Belarusian Industry:
Number of people in employment: 4.6 million (2011)Distribution of employed population across economic
sectors (2011):
Why to Locate Your Business in Belarus?
Foreign investment in Belarus has risen 13 times and trade with Belarus - 4 times since 2002
“The investment climate in [Belarus] is a bit surprising, in a positive way.”
December 2011/ January 2012
Geographical location
Economic stability
Favorable investment climate
Highly skilled workforce
Industrially developed economy
The Business Environment
In Belarus there are now:
more than 2300 joint venture companies in Belarus
almost 2000 foreign enterprises registered in Belarus
Around 60% of the goods made in Belarus are for export.
The Republic of Belarus trades with over 180 countries. (Data for 2011)
Major Export Goods Trucks, road-building and construction equipment
Tractors and agricultural machinery
Fertilizers
Petroleum products
Chemical fibers and threads
Refrigerators and household appliances
Tires
Timber and timber products
Meat and dairy products
Sugar
Free Economic Zones in Belarus
Each region of Belarus has a free economic zone. Businesses operating in these zones enjoy a range of
benefits including:
•zero-rate tax on exports for the first 5 years
•exemptions on turnover tax, road tax and property tax
•entitlement to open foreign and Belarusian currency bank accounts
• priority at border crossings
•full exemption from import duty on raw materials
The Importance of Science and Technology
With high levels of education in
Belarus the Government is
active in promoting the
development of science and
technology in Belarus.
In 2005 the President of Belarus
opened the High Technology
Park in Minsk.
High Tech Park There are currently 106 companies operating in the park
20% – joint ventures
27% – enterprises with 100% foreign investments
Why HTP?
Due to the legislative initiative of the Belarus government, IT companies are exempt from all
corporate taxes, including VAT, profit, real estate and land taxes. Individual income tax has
a fixed rate of 9% for the employees of HTP companies.
HTP attractiveness is based not on tax benefits and costs alone, but on knowledge, innovation
and highly qualified human resources.
“Hi-Tech Park in Belarus is a growing hub for both
regional and international software and IT firms that
offers its registered businesses economic incentives.
This is one example of how the eastern European
country is capitalising on its highly skilled workforce
of engineers, which has also attracted the attention of
the likes of Microsoft and NEC.”
Michal Kaczmarski
fDi Intelligence
Investment Opportunities
The government of Belrus created a strategy to attract foreign direct investment (FDI) designed to run until 2015.
According to Nikolai Snopkov, Minister of Economy, implementation of the activities envisaged in the strategy
will allow Belarus to go up to the 36th position on the World Bank doing business rankings in 2014. Annual FDI
growth by 2015 is expected at $7-7.5 bln.
Decree №6 "On stimulation of entrepreneurial activities in the medium and small
towns and rural areas" exempt from income tax
exempt from property tax
exempt from registration fee for the issuance of special permit or licenses for certain activities within seven calendar years
exempt from buying raw materials, components and materials for their own production on the Belarusian Universal Commodity Exchange
Exempt from import duties and VAT for goods imported to Belarus as a contribution to the authorized capital of the company that is registered in rural areas (for 3-5 years depending on the type of goods)
10 Reasons to Invest! LOCATION - Belarus is in the heart of Europe
INCENTIVES - Generous tax breaks and other incentives for investors
POTENTIAL - Low competition across all sectors and plenty of room for growth
OPPORTUNITIES - Large-scale privatization program is underway
WORKFORCE - Highly skilled, hard-working and low cost workforce
MARKETS - Direct access to the 275 million strong CIS market
REFORMS - Fourth best business reformer in the Doing Business Report (2009 and 2010)
GOVERNANCE - Established legislative, judicial and executive system of government
PROTECTION - Investment code and international treaties to protect investments
ENVIRONMENT - A safe, clean, friendly place to live and work, with high educational standards
Key Sectors of Investment(according to the government strategy to attract
FDI
• Food industry• Construction• Manufacturing
• Plastics
SWOT
• STRENGTHSStrategic location, highly educated workforce, infrastructure
• WEAKNESSESPolitical environment, perceptions of risk, lack of information, and over-priced communications
• OPPORTUNITIESInvestors re-evaluating emerging market risks, eurasian common economic space
• THREATSCompetition for FDI
Who are we?
We promote trade and investment between the EU and
Belarus. We assist companies to develop business
opportunities as well as evidence-based dialogue between
governments and companies.
Our mission is to help solve market access difficulties and
overcome regulatory obstacles that hinder EU-Belarus trade.
Our Core Expertise
Our Partners
Our Members
Contact Us
34(2)-24 M.Tanka Str.
Minsk 220004 Belarus
www.beubc.com Tel:
+375447181910 [email protected]
om
Museumlaan 25B3080 Tervuren
Belgiumwww.beubc.com
Tel: [email protected]
One Day in the Life of Belarus