The National Agency of Investment and Privatization should simplify the path for investors into the Belarusian economy – A. Lukashenko

November 15, Minsk / Tatyana Polezhay - BELTA /. The National Agency of Investment and Privatization should simplify the path for investors into the Belarusian economy. This was stated today by Belarusian President Alexander Lukashenko at a meeting on the creation and operation of this institution, according to a BELTA correspondent. "The goal set for the agency is clear - to optimize all processes and become the "one-stop shop" for investors, which will help them enter the Belarusian market, and for us - to increase our economic potential," the President emphasized. Alexander Lukashenko noted with regret that there are many complaints about the authorities' work with investors at both the regional and republican levels. Business people complain about red tape and bureaucratic barriers from management bodies. "Indeed, before starting investment projects, businessmen need to obtain a lot of permits and approvals from various ministries, regional, city, district executive committees, and other organizations. Often, this takes at least one and a half to two years," the head of state said. On the other hand, the President noted, there are complaints from management structures about the passivity and unreliability of investors, and their excessive demands. "Apparently, there is both," Alexander Lukashenko stated. He recalled that to remove any obstacles for investors, promptly resolve their problems, and systematize this work, a number of amendments and additions have recently been made to the legislation. Preferential terms have been provided for both starting activities and the entire process of implementing investment projects. In addition, the country has moved to create specialized structures and institutions designed to stimulate capital inflows into Belarus, in particular, the institution of investment agents has been introduced. The decision to form a new republican structure - the National Agency of Investment and Privatization - was made taking into account the recommendations of authoritative international financial and credit organizations. It is entrusted with two crucial tasks: effective practical work with investors and the development of technology for the privatization of state assets. At the same time, Alexander Lukashenko expressed doubt about the need to create this structure: "I will say frankly: I am still not convinced that we are doing the right thing by copying someone else's experience, that it will necessarily help us promote investments." The President drew attention to his concern that the new agency might repeat the mistakes of its predecessor, on the basis of which it is essentially being created, and whether it will not become another bureaucratic structure that will not simplify, but complicate the path for investors into the Belarusian economy. Alexander Lukashenko also expressed doubt about whether the agency will be able to establish effective interaction with other government bodies in the center and in the regions, with enterprise directors, and whether this structure will not become an additional burden on the republican budget. "And most importantly: what will this structure give the country in the near future and in the long term?" the President noted. "By creating the agency, we may shift responsibility from ministries, departments, and enterprise managers. It is very dangerous that we do not substitute real work with investors with the creation of some specific, perhaps even important, structure." -0-