MINSK, 21 July (BelTA) – In 2011-2015 Belarus is set to increase the volume of foreign direct investment to $7 billion per year, Prime Minister Sergei Sidorsky said at a session of the national organizational committee in charge of the preparation of the 4th All-Belarus People’s Assembly. The social and economic program for the next five years introduces an index of investment on a net basis, according to Sergei Sidorsky. “The volume of investment has been $1-1.5 billion annually in recent years. This is not enough for efficient economic development. We introduce the index of foreign direct investment on a net basis in the amount of up to $7 billion annually,” Sergei Sidorsky said. This will enable us to increase real earnings of people by 70-76% in the next five years including “average monthly wages up to $1,000 and raise pensions, benefits and scholarships,” the Prime Minister said. The measures in the monetary-credit and budget-tax areas are designed to stabilize the macro-economic situation: reduce inflation, ensure stability of the exchange rate of the Belarusian ruble, decrease the tax burden, and streamline tax payment rules. The Belarusian government is working on a system of measures to enhance the international rankings of the country. In the next five years Belarus is set to make it to the top thirty countries with the best business conditions and to vault from 183rd position to 30-50th in taxation rating. The country is going to switch into trade surplus by 2015 by pursuing an aggressive foreign trade and import-substitution policy. Export of commodities is projected to double in the next five years. When developing the previous five-year development program, the government just started looking to invest abroad. Now the program envisages concrete investment projects abroad including in Venezuela, Iran and other countries. Belarus is also going to invest in projects in the Asian and African countries. Five-year programs for ministries and agencies need to be developed in addition to the national social and economic development program for 2011-2015. Sergei Sidorsky singled out the national innovation development program for the next five years. According to him, the funding of research and development will be increased by 6.5-7 times. “This goal is very ambitious. Financial resources channeled into science should increase multifold and overflow into the real production sector,” he added. The draft proposals on the program should be approved next week. Then the government will get down to the program proper, the Prime Minister said. БЕЛТА
Written by belta.by
