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Belarus not to restrict foreign investments - PM

October 11, 2011, 16:41 UTC+3

"Today our own banking system cannot meet the demands of our economy," Myasnikovich said

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MINSK, October 11 (Itar-Tass) — Belarus will not restrict foreign investments, Prime Minister Mikhail Myasnikovich told a meeting of the Council of Ministers on import replacement on Tuesday.

“We offer not to restrict the investment import,” he said. “We’ve already taken a decision on this issue and we need to fulfill it. This is the future”

In 2011 Belarus has improved the structure of the investment portfolio, Myasnikovich said.

However, investments into equipment and technologies account only for 40 percent in the total investment volume.

“Therefore in 2012 and further on we will try to invest into machinery, equipment and technologies – everything that gives fast feedback, real added value and new competitive products,” he said.

The main sources of the investment import should be direct foreign investments, foreign bank’s loans as well as domestic enterprises’ own funds.

“Today our own banking system cannot meet the demands of our economy,” Myasnikovich said.

The head of government also noted that soon new approaches to subsidizing the economy will be launched.


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