Business climate in Belarus has significantly improved

According to Sergei Novitsky, Deputy Chairman of the Entrepreneurship Development Council, the business climate of Belarus has significantly improved. He said this during press conference ahead of the EY Entrepreneur of the Year 2018 Awards ceremony. 

According to Sergei Novitsky, this was achieved among other things thanks to the adoption of Decree No.7 “On the Promotion of Entrepreneurship” and Decree No.8 “On the Digital Economy Development”, and also other related documents. “They have made life easier for entrepreneurs of all forms,” the deputy chairman of the council said. Sergei Novitsky named a significant reduction in the requirements for starting a business and also simplified fire, sanitary and environmental standards among the most significant innovations for business development. This enables a businessman to open a cafe in a matter of days today. It could take at least 7-9 months before. 

According to the deputy chairman of the council, the main thing, however, is that the government's approach to business mistakes has changed from a punitive to a preventive one. At the same time, Sergei Novitsky noted that the comfortable state of the economy is observed when small and medium-sized enterprises occupy 50% of the business. Today their share in Belarus is about 28%. “According to the SMEs promotion plan, their share should reach 40% by 2020. I think if we reach 50% within some 10-15 years, it will be a great result,” he added. 

Olga Shcherbina, the head of the representative office of the International Financial Corporation mentioned that more attention should be paid to women's business in Belarus. "In our opinion, it is necessary to make certain efforts to support women's business, so that it could develop more actively and move into more marginal sectors. This is one of the tasks of the state. For ourselves, we set the task to draw attention to the problems of women's business," she said. "However, this does not mean that women's business in Belarus is not developing or developing poorly. It just needs to be supported separately," added Olga Shcherbina.

From: BelTA
7 2018