Revamps its Investment Law introducing enhanced incentives and streamlined framework for priority projects
23 Jul 2024
On 23 July 2024, the revised Investment Law of Belarus came into force, introducing significant changes to attract and facilitate investment. The Government has redefined priority sectors, significantly expanding the list to include high-tech sectors such as aerospace, biotechnology, and electric vehicles, reflecting a shift toward innovation-driven development. The new law simplifies procedures and establishes new mechanisms to encourage investment in priority sectors, such as preferential investment projects and special investment agreements.
Preferential investment projects focus on priority economic activities, and offer benefits such as infrastructure cost compensation in designated regions. Other updates include expanded preferences for investors, streamlined processes for concluding investment agreements, and safeguards like a 5-year stabilization clause to protect against unfavorable tax changes. Notably, investors are now required to reimburse benefits and pay penalties if agreements are terminated without being fulfilled.
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Type:
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Treatment and operation (Operational conditions)
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Promotion and facilitation (Investment facilitation , Investment incentives)
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