Minsk to raise $950m in FDI in 2013

        In 2013 Minsk is determined to raise $950 million in foreign direct investments on the net basis,
Chairman of the Economy Committee of the Minsk City Hall Anton Krayevsky said at a session of the Minsk City Hall to discuss socioeconomic development targets of the Belarusian capital. More than 55% of FDI will be raised through investment projects financed by foreign investors. About $380 million is to be injected in the banking sector and $50 million will reinvested by foreign companies.  The Minsk City Hall plans to conclude at least 100 investment agreements, offer at least 200 land plots to investors (including 20 land plots to set up production facilities), sell state-run property and land plots at auctions. “This will allow setting up at least 1,300 companies with foreign capital, including at least 60 manufacturing companies,” Anton Krayevsky said.
       The Minsk City Hall has drafted a regulation on investment projects that should be offered via open tenders. The document will simplify procedures of selling property. The local authorities will give access to the single state registry of real estate in a bid to facilitate the work of the Investments Advisory Board.