Belarus introduces legislative changes to foreign companies’ operations

Belarus’ Economy Minister Yuri Chebotar told the Belarus 1 TV channel about legislative changes regulating the operation of foreign companies on the Belarusian market, BelTA has learned.

Yuri Chebotar commented on the approaches to the sale of property by foreign companies, which was mentioned at a recent meeting with the president. According to the minister, the president demanded, first of all, maintaining stable operation of all enterprises regardless of the form of ownership. Therefore, a foreign owner can leave the Belarusian market and sell their share, but this company must continue successful operation in the country.

“We have tested a number of mechanisms how to motivate a company to stay while taking into consideration the interests of the country. If you want to leave, you need to pay 25% and get permission to sell your share – this is how it works. But certain issues emerged while implementing these measures, and they should be eliminated completely. We need to do this in order to ensure that these issues will not hurt the interests of our citizens. We will promptly prepare appropriate amendments to solve these issues,” the economy minister said.