OREANDA-NEWS. March 4, 2010. The Economy Ministry of Belarus has prepared a liberalization program for 2010, Deputy Economy Minister Andrei Tur said during an enlarged session of the standing committee of the Advisory Council for Foreign Investments with the Council of Ministers.

“We have prepared a plan for further liberalization for the year 2010. It will include all of our development components, including regulations, registration, price formation, controlling activities, labor market liberalization and property relations,” Tur said.

Commenting on changes in price formation rules scheduled for 2010, Tur said the list of commodities subject to state price regulation would be reduced, whereas the requirement to provide estimates for prices and tariffs will remain only for the goods subject to state price regulation.

It is also planned to reduce the size of fines and penalties for violations of price formation rules, simplify administrative procedures and document flows.

The session of the standing committee of the Advisory Council for Foreign Investments was arranged with assistance of Ernst & Young, the coordinator of the Advisory Council representing foreign companies and international organizations, and the International Finance Corporation, the co-chair of the working group for improvement of investment legislation in Belarus with the Advisory Council.