Belarus Expands Opportunities for Investment in Loss-Making Companies
OREANDA-NEWS. August 10, 2009. Belarus expands opportunities for investment in loss-making state-owned companies, the State Property Committee told, commenting on Decree No 410 of 4 August, 2009, which makes corrections in Decree No 113 of 25 February 2008 “On the Procedure and Terms of Selling Companies as Property Complexes of Loss-Making State-Owned Organisations to Legal Entities”.
The new document abolishes such a criterion as ‘steady financial insolvency’. It increases the number of companies coming under the Decree.
According to the Decree, the integrated state expertise of investment projects is replaced by the coordination with the government and local authorities. The local authorities are the initiators of the sale of loss-making companies.
The corrections to the Decree will facilitate the sale of loss-making companies to the legal bodies.
Overall, Decree No 410 will expand the sphere of the application of Decree No 113 and reduce the number of loss-making state-run companies. And all these measures will yield extra income to the state and local budgets.
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