29-06-2012 15:16 Belarus
Private business to get access to subsidized investment projects
MINSK, (BelTA) – The government of Belarus plans to give private business an opportunity to take part in tenders to implement most important investment projects envisaging state subsidies, Vice Premier of Belarus Sergei Rumas told an extended session of the standing committee at the Advisory Board for Foreign Investments under the Council of Ministers of Belarus on 28 June, BelTA has learnt.
“Today we are working on a law on public-private partnership. I think that this law will help formalize state support for small and medium-sized business. There are special funds in Belarusian regions; finances are allocated to support small and medium-sized business. It is true, they are not big. The state probably cannot afford providing extensive support to small and medium-sized business today,” the Vice Premier said.
“As for plans, every year a list of most important investment projects is compiled in Belarus. We expect that starting from next year the projects to be included in the list will be selected by means of competition. We hope that all companies regardless of their form of ownership will be able to take part in major investment projects that are entitled to government-backed loans,” the Vice Premier said.
“Apart from that, the 2012 monetary policy and the major targets of the 2013 monetary policy allow us to hope that interest rates will go down considerably becoming affordable for small and medium-sized business,” Sergei Rumas concluded.
Belarus is currently working on a decree on financing innovative projects. The new decree will allow for using instruments like a voucher and a grant.