Belarusian economy attractive for foreign investors

The growing activity of foreign investors in Belarus means that they are interested in the Belarusian economy, Deputy Economy Minister Alexander Yaroshenko said at the opening of the Day of the Belarusian Economy at EXPO 2015 in Milan on 25 June, BelTA has learned.

“The growing activity of foreign investors in the country testifies to the global interest in the Belarusian economy. Over five years the inflow of foreign investments to our economy has almost doubled to reach $63.3 billion,” Alexander Yaroshenko said.

In his words, Belarus plays an important role in the European economy because of its geographic location and economic potential. The country is situated at the crossroads of important trade routes from Russia and Asian countries to the European Union, between Baltic and Black Sea countries. “It promotes the development of trade. Our country trades with 160 countries,” Alexander Yaroshenko stated.

Belarus’ trade turnover makes up 115% of the country’s annual GDP. Belarus is middle income country in terms of GDP per capita and its purchasing power parity ($18,200). “It is attributed not only to the favorable geographic location, but also to the high potential of our country, advanced science and education,” Alexander Yaroshenko explained. Belarus accounts for 30% of the global output of dump trucks, 17% of harvesters, 6% of tractors. Belarus also accounts for 16% of the global export of milk and dairy products, is the fourth biggest exporter of whole milk.

Alexander Yaroshenko said that Belarus’ innovative sectors are increasingly vibrant. “Such computer programs of Belarus software developers from the Hi-Tech Park as Viber and World of Tanks are known all over the world,” the deputy minister said.

The Day of the Belarusian Economy takes place at EXPO 2015 in Milan on 25 June. All events will showcase Belarus’ investment potential, new conditions of economic cooperation created by Belarus’ membership in the Eurasian Economic Union, the experience of trade cooperation and long-term financing. Plans have been made to hold a business matchmaking session.

Partaking in the event are the largest Belarusian and Italian companies specializing in the food industry, machine building, light industry, instrument engineering, medicine, petroleum chemistry, pharmaceutics, energy, information technologies and other sectors of the economy, representatives of international financial institutions, the biggest Italian banks and heads of Italian agencies.