The National Agency of Investment and Privatization of the Republic of Belarus is a state organization established for attracting foreign direct investments. The aim of the Agency is to improve the investment image of Belarus abroad, to promote foreign investment projects on the territory of the country, and encourage potential investors to invest in the enterprises of pilot privatization project which is carried out in cooperation with the World Bank.
The National Agency of Investment and Privatization was established in 2011 as a subordinate to the Belarusian Ministry of Economy. Several years after its establishment, the Agency has already become are liable partner for international and local companies interested in investing in Belgium. Acting as a “one-stop shop” for foreign investors, it plays a key role in building a strategic trust relationship between business and government by encouraging the state and enterprises to establish strategic confidential relations.
The Agency promotes the positive image of the country by presenting its potential for investment on the relevant markets of the world and by organizing the Belarusian Investment Forum. Maintaining a balance between the interests of Belarus and the interests of the investors, it introduces the best international practices of state property privatization with the assistance of the World Bank. The privatization tenders help in attracting investors from all over the world who are interested in expanding their projects on new markets and exploiting the investment-friendly business climate in Belarus.
According to its charter, the Agency participates in policy development in the sphere of foreign direct investment attraction, cooperates with transnational corporations to create joint import-substituting enterprises in Belarus, implements measures in formation of country’s investment image, creates and updates the database on investment activity, renders project support, etc.
Foreign investors, willing to run a business in Belarus, can request assistance from the National Agency of Investment and Privatization assistance. The services are free of charge for foreign investors and include: arrangement of trips to Belarus, including visa formalities; getting information of the country’s investment opportunities, special regimes and benefits, state programmes of industries support and development, the procedure of making investment decisions; selection of investment objects (investment projects, land lots, buildings) – consulting in selection of the optimal variant; collection and analysis of information about a certain investment object an investor is interested in taking into consideration the regulations and norms about protection of undisclosed information; organisation of the meetings required to make an investment decision, including with market regulators, representatives of sector ministries, local authorities, key players of the market and potential partners; resolution of the issues arising during implementation of an investment project (solution provider). The Agency is also ready to render post-project support.
The Agency fulfils certain functions of privatization bodies on certain objects, including attracting specialists to perform privatization procedures; participating in the preparation of draft resolutions on privatization of the shares owned by the state; drawing up the offers on the method and conditions for the privatization of objects; establishing commissions for conducting auction sales; submitting complaints on the disputes arising from privatization contracts; etc.
In cooperation with the World Bank, the Agency implements the pilot privatization, through which it prepared the privatization of eight enterprises, including Belgazstroi, Minsk Margarine Factory, Avtomagistral, Construction and Assembly Trust No. 8, Baranovichi Reinforced-Concrete Structures Factory, Medlplast, Konfa, and Belsantechmontazh 2.