OREANDA-NEWS. February 17, 2010. Belarus is going to raise more than Br2.764 trillion of investments, including more than Br1.406 trillion of foreign investments, to implement 60 major investment projects in 2010.

In line with Resolution No169 of the Council of Ministers, “On the investment activities in the Republic of Belarus in 2010”, most of the funds will be channeled into the companies of the Ministry of Architecture and Construction (Br790.4 billion), and the Belneftekhim concern (Br422.3 billion).

On the whole, the document has been designed to reach the projections regarding the employment of capital investments that were outlined by Decree No 595, “On approving the most important parameters of the social and economic development of the Republic of Belarus for 2010” of 7 December 2009. In line with the decree, capital investments are expected to increase by 23%-25% as against 2009. In accordance with Resolution No169, the total amount of capital investments is expected to make up Br60.28 trillion.

The Council of Ministers has also outlined the list of projects to be implemented with the help of foreign investments in 2010. Foreign capital investments are projected to amount US2.168 billion.

According to Resolution No169, implementation of 11 events will help meet the growth targets regarding capital investments, foreign investments and investment projects this year. Several priority measures will be carried out to address the issues hampering the inflow of investment in Belarus. For instance, the government is going to compile the list of land plots to be offered to investors, to make proposals on the sale of shares of Belarusian open joint stock companies to strategic investors, to develop the institute of investment agents, create holding companies in Belarus, create more investment incentives for the chiefs of state organizations and organizations with the share of the state for good results in this field.

The resolution also spells out the targets for ministries, concerns, oblast executive committees and Minsk city hall regarding the annual volume of foreign investments which are necessary to finance investment projects; the targets for the free economic zones regarding the growth of capital investment and the volume of foreign investments to finance investment projects. The volume of bank loans has been identified for the real productions sector in 2010 for innovative activities including with the help of foreign loans.