MINSK, 6 October (BelTA) - In Belarus, 44 investment projects worth more than Br2.9 billion have been included in the list of preferential projects. The areas of application are the manufacturing sector, agriculture, forestry and fisheries, wholesale and retail, entertainment and recreation, BelTA learned from the press service of the Economy Ministry of Belarus.
Brest Oblast is in the lead, with 17 projects worth more than Br1.15 billion. The top three also include Vitebsk Oblast (10 projects) and Mogilev Oblast (9 projects), with business ideas worth around Br600 million and some Br425 million, respectively.
A preferential investment project is a project implemented in Belarus (with the exception of Minsk) by an investor without concluding an investment agreement, with benefits and/or preferences granted. A project that corresponds to priority types of activity can become preferential. The investor must be an operating business entity, must not be under arrest/seizure, and must not have restrictions on its activity. There may also be other requirements relating to financial and economic standing. Additional requirements for an investment project may be determined by the Council of Ministers.
The benefits and preferences granted to such investment projects relate to construction (selecting a contractor without carrying out the procedures established by law, parallel design), taxes and duties (exemption from import customs duties, from profit tax, from the state fee for issuing special permits for the right to engage in employment activity in Belarus, and full VAT deduction) and the land plots (provision of a land plot included in the list without holding an auction, exemption from land tax and rent for the period of project implementation, and others).
Brest Oblast is in the lead, with 17 projects worth more than Br1.15 billion. The top three also include Vitebsk Oblast (10 projects) and Mogilev Oblast (9 projects), with business ideas worth around Br600 million and some Br425 million, respectively.
A preferential investment project is a project implemented in Belarus (with the exception of Minsk) by an investor without concluding an investment agreement, with benefits and/or preferences granted. A project that corresponds to priority types of activity can become preferential. The investor must be an operating business entity, must not be under arrest/seizure, and must not have restrictions on its activity. There may also be other requirements relating to financial and economic standing. Additional requirements for an investment project may be determined by the Council of Ministers.
The benefits and preferences granted to such investment projects relate to construction (selecting a contractor without carrying out the procedures established by law, parallel design), taxes and duties (exemption from import customs duties, from profit tax, from the state fee for issuing special permits for the right to engage in employment activity in Belarus, and full VAT deduction) and the land plots (provision of a land plot included in the list without holding an auction, exemption from land tax and rent for the period of project implementation, and others).
