Search

Law contains detailed list of types of unfair competition cases The updated Law «On Counteracting Monopolistic Activities and Developing Competition» is now in force in Belarus. The mechanisms prescribed in it are designed to promote fair competition in the market and encourage producers to improve the quality of goods. The law, in particular, introduces a ban on copying or imitating a corporate style. A separate chapter is devoted to unfair competition, the problem of which is topical: last year...

Business Development Council points out growing business activity «Positive changes in the legal regulation of business, as provided for in Decree No. 7, have already given certain results», Entrepreneurship Development Council noted having analyzed the results of the document's implementation of the. The drastic reduction of administrative barriers has contributed to the growth of business activity. Expansion of the list of types of business that do not require registration as an individual entrepreneur...

By forecast, GDP in Belarus in 2018 to grow by 3.5% The Fitch agency confirmed the long and short term sovereign credit rating for Belarus. It is the «B» level, forecast stable. The confirmation of the rating reflects the balance between the improvement of the macroeconomic situation on the one hand, and several potential risks on the other. The agency noted a stronger rehabilitation of the economic activity in Belarus, as compared to the expectations. This year, the GDP in Belarus will grow by...

New business opened in transport services, trade, construction Private entrepreneurs employ more than 54 thousand people today. In Belarus there are 238,500 small businesses. Growth is estimated at almost two and a half thousand from January, for the first time in three years. Most of all those who opened their business, work in transportation services, wholesale and retail trade, as well as construction. These are the first results of the Decree No. 7 and the entire liberalization package. The...

Individual entrepreneurs prioritize catering The importance of small business is growing in the country's economy. Since the beginning of the year, the number of individual entrepreneurs in Belarus has increased by more than two thousand. Most of them are employed in Minsk, 72 thousand. In total, about 240 thousand people are working in small business in Belarus. The majority of individual entrepreneurs prefer to start their own business in the sphere of public catering, while the traditionally...

New rules to enter into force three months after publication The Ministry of Antimonopoly Regulation and Trade is going to put obligatory indication of consumer prices for the goods per kilogram and liter into law. For the time being, this requirement is of a non-regulatory nature. More and more producers start marketing goods whose weight is not a multiple of one (cereals, dairy products, oils). Under the new rules consumers will find it easier to decide on their purchase. The regulations will...

Lukashenko marks good level of cooperation with Sberbank Cooperation with the largest Russian bank was discussed today at the Palace of Independence. Belarus President Alexander Lukashenko thanked the head of Sberbank for active investment in Belarus’ economy. In turn, Herman Gref noted that this time he came to Belarus with some new offers. 110 million clients in Russia and 11 million clients abroad use its services. Outside of the CIS, Sberbank is present in 9 states of the Central and Eastern...

In 2018 Industry Ministry begins to supply products to 23 countries Export diversification. This year enterprises of the Industry Ministry of Belarus began to supply products to 23 countries. There is a tendency for production growth. In Q1 2018, the production output was increased by 17%, exports – by 27%. Industrial products and equipment are imported by 93 countries. The share of Russia is 50%. As far the new markets are concerned, these are not just countries of the «far arc». The supplies...

Development bank to consider opportunity of eurobond placement in Belarusian rubles The general creditor of the state programs, the Development bank, and the Belarusbank are joining their efforts in the support of the real sector of economy. Today the banks signed a memorandum on cooperation. They will jointly fund the most important national projects. Crediting of high-scale investment programs is fraught with high commercial risks. The partnership will help minimize financial threats and achieve...

3.5% GDP growth expected this year There are plans to raise the GDP to $60 billion in Belarus in 2018, Economy Ministry reports. The work to secure the GDP target has been successful so far. A small decline in comparison with Q1 2018 was fully predictable. This year 3.5% GDP growth is expected. The main drivers are the exports and growing domestic demand. As far as long-term perspectives are concerned, instructions have been given to raise the GDP to $100 billion by the end of 2025.