OREANDA-NEWS. On January 11, 2007 Belarus has drafted the documents aimed at boosting foreign investments to the country, Economy Minister of Belarus Nikolai Zaichenko told a session of the Council of Ministers, reported the Official website www.government.by.

According to him, most important conditions of ensuring high economic growth is robust modernisation and expansion of production capacities of export-oriented facilities, creating new competitive manufactures. In his words, for that Belarus needs to create the conditions to attract investments, including private and foreign ones.

Nikolai Zaichenko informed, a decree “On intensifying the work on attracting direct foreign investments” provides for a set of stimulating measures in regard to profit-making companies with foreign investments which are located in the towns with a population of under 50 thousand.

A decree “On introducing amendments and addenda into several decrees of the President of the Republic of Belarus on the activity of the free economic zones” is aimed at increasing an inflow of investments in the foreign economic zones (FEZ). The document gives guarantees for the FEZ residents, improves the registration rules, extends the terms of reference of the FEZ administrations, and establishes more privileged terms in respect of rent and taxation.

A decree “On approving the list of the sites for to be given into concession” seeks to put into practice the institute of concessions.

A decree “On several measures to implement investment projects financed with the help of foreign state loans” is aimed at increasing the efficiency of the work on attracting foreign loans into real production sector.

A decree has been drafted to boost the financial market. It intends to reduce the tax on bond profits from 40% to 24%, simplify the produce of issue and circulation of bonds, placement of corporate bonds on foreign markets.