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On creating attractive conditions for investment activity

As part of implementing the regional policy, the Government assesses the possibilities of a symbiosis of the country's sectoral development priorities and regional strategic goals. The available resources of administrative-territorial units are constantly monitored, with an emphasis on infrastructure, labor potential and natural resources of the territory. A number of research institutes are engaged in a comparable assessment of the socio-economic effects from allocating investment projects and costs of updating or construction of a new enterprise in the regions of the country.

A number of financial instruments have been developed to stimulate investment activity on the part of the state. It’s basically lending to investment projects, the possibility of returning part of the costs from the budget, obtaining a state order for new products. All new mechanisms require analysis, additional calculations, approvals, and consolidation in regulatory documents, which sometimes is an impediment to get investment. A potential investor always assesses the risks. If there's a joint project, then both state and private investments are involved, thus reducing some risks at once. If the project is based only on attracted investments, then there is a need not only to calculate the payback period and the possibility of attracting loans on preferential terms, but also to have potential markets for products, labor resources, consumer demand, and infrastructure of the region.

Involvement of local authorities is also important (how quickly they are ready to assist in addressing force majeure issues, especially in the period of sanctions pressure and reorientation of export markets). Many FEZs, special economic zones and parks create attractive conditions for investors, but there are still certain difficulties with the developed infrastructure. Sometimes the cost of its construction is several times more expensive than the cost of investment project itself. Periodic difficulties on the border with the EU bring a number of changes to the investment attractiveness of the regions of Belarus. The predominant interest and potential are increasingly possessed by the eastern regions of the country, and transport costs are becoming one of the significant factors in opening joint ventures and building logistics.