OREANDA-NEWS On 06 October was announced, that the House of Representatives of Belarus took note of President’s decree No 10 “On additional conditions for investment activity of Belarus”. The decree facilitates the process of starting an investment project in Belarus for Belarusian and foreign investors. The document reinforces the responsibility of investors for fulfilling the obligations undertaken under a project. The contracts need to clearly define the sites of investment projects, volumes and terms of investments. 

The document also introduces a three-level system of signing investments contracts with Belarus, differentiates the preferences depending on the scale of a project. 

The decree envisages mandatory conditions for signing investment contracts. Contracts can be extended depending on their area of application and specifics. A land plot can be granted to investors in Belarus without holding an action. Investors can have documents on the land plot registered and simultaneously start construction of facilities and design the next construction stages. They can import technological equipment under an investment project without paying customs duties and VAT. Investors are also eligible for other preferences and privileges. 

The decree is intended to encourage large-scale investment activity in Belarus.