OREANDA-NEWS. October 09, 2008. In Belarus energy industry investors will be offered taxation preferences, First Vice Premier of Belarus Vladimir Semashko said at the IV international investment forum in Mogilev on October 9. In his words, the government has prepared two new energy industry bills meant to encourage investments into the industry.

 They grant taxation preferences for up to 7 years. Investors are expected to recoup their money within five years and use the remaining two years to develop their companies, said Vladimir Semashko.

“Power engineering used to be a state monopoly in Belarus, but now we are glad to welcome any investment projects,” he added.

There are plans to put around US40 billion in investments into power engineering industry soon. The figure does not include the construction of the nuclear power plant, said the official.