Belarus intends to increase the volume of foreign direct investment to $7 billion per year within five years

July 21, Minsk / Yekaterina Nechayeva - BELTA /. Belarus intends to increase the volume of direct foreign investment to $7 billion per year in 2011-2015. This was stated by Prime Minister Sergei Sidorsky today at a meeting of the republican organizing committee for the preparation and holding of the fourth All-Belarusian People's Assembly, a BELTA correspondent reports. According to the Prime Minister, the socio-economic development program of Belarus for the next 5 years includes a key indicator for attracting net investment. "This indicator is constantly at the level of $1-1.5 billion, which, unfortunately, is insufficient for the effective development of the economy. For the first time, we are introducing a net direct foreign investment indicator of up to $7 billion annually," said Sergei Sidorsky. This will allow for the next 5 years to ensure a real monetary income growth rate of the population of 170-176%, including "an increase in the average monthly salary to $1,000 and an increase in pensions, benefits and scholarships," the prime minister noted. Measures outlined in the monetary, credit, budget and tax spheres should ensure the stabilization of macroeconomic conditions: a decrease in inflation and the stability of the Belarusian ruble exchange rate, a reduction in the tax burden and a simplification of the procedure for paying taxes, fees and duties. The Prime Minister emphasized that the Belarusian government is working on a set of measures to improve the country's international rating. Thus, in the next five years, Belarus intends to enter the top thirty countries in the world with the most favorable business conditions, in particular, to move from 183rd place to the 30-50th place in the tax ranking. Through an active foreign economic policy and import substitution, it is planned to achieve a positive balance of foreign trade in goods and services by 2015. Exports of goods should increase by at least two times in 5 years. Touching on the topic of investment, Sergei Sidorsky noted that if during the development of the current five-year plan the government was just beginning to discuss Belarus's investments in other countries, now specific investment projects abroad are clearly defined, including in Venezuela, Iran, and neighboring countries. The development of investment in promising Asian and African directions is also expected. In addition to the socio-economic development program for 2011-2015, specific five-year programs for ministries and departments will also be developed. Sergei Sidorsky specifically highlighted the state program of innovative development for the next 5 years. According to him, funding for research and development will increase by 6.5-7 times. "This is a colossal task. We will provide resources to science that should increase tens of times and transition into the real economy of the country," he added. According to the Prime Minister, the draft main provisions of the program may be adopted next week, and then the government will proceed to prepare the program itself.