FC encourages Belarus to work out procedure to compensate for seized property of investors

       Experts of the International Finance Corporation have an overall positive opinion of the law on investments that has been passed in Belarus. However, the IFC believes that Belarus could legislate a procedure to assess and pay out compensations to investors if their property is seized.
        The expert pointed out several advantages of the law in comparison with the existing Investment Code. In particular, the law is a more compact document and specifies principal guarantees for investors without interfering with their day-to-day operations while leaving the freedom of choice within the framework of the law. The law has redetermined the notions of investments and investment activities. Main principles for making investments have been determined and they are compliant with the international practice. In particular, the principles include the supremacy of law, equality of investors, conscientiousness and wisdom of making investments, infeasibility of arbitrary interference with private affairs.