MINSK, 30 April (BelTA) – In 2010 Belarus plans to raise $5.6 billion in foreign investment, including $2.8 billion of capital investment, Deputy Economy Minister of Belarus Andrei Tur told reporters. Speaking about the situation with capital investment, Andrei Tur said that this parameter has been historically high in Belarus (Belarus achieved its five-year investment growth target in four years). Yet, this year the situation is difficult due to the financial crisis which has affected the investment opportunities of companies and organizations. In this situation the Economy Ministry believes that the growth of foreign investment will be a good way out. According to Andrei Tur, there is some progress in this area already. In Q1 this year the volume of foreign investment in Belarus was up 1.4 times over the same period last year. Their share increased to 6.7% in the total volume of investments. A range of decisions has been taken for this purpose. The list of investment projects to be implemented with the use of foreign investments has been compiled. Relevant targets have been set before the government bodies. New approaches are applied to facilitate the investment processes. The terms for potential investors involved in new technology have been made more favorable. The investments legislation has been upgraded to improve the investment climate in the county. The work is underway on the new wording of the Investment Code. Specialists of the World Bank, International Finance Corporation provide consultations on this issue. The government has passed a resolution to streamline the government approval procedures. As an example of serious achievements in terms of raising foreign investments Andrei Tur cited the creation of the Italian business district in the Brest oblast. He also reminded the reporters that China offered Belarus $15 billion for investment projects.

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