The closed joint stock company the Belarusian Foreign Investments Promotion Agency (BFIPA) was established under the patronage of the Ministry of Foreign Economic Relations of the Republic of Belarus. The Agency has incorporated commercial banks of the Republic of Belarus, consulting companies, other organizations.

The Agency is designed to serve the purposes of information and analytical support, monitoring of investment projects which are realized with participation of foreign capital. The activity of BFIPA is targeted primarily to promote small and medium business in Belarus.

At present the Agency is the only organization in the Republic of Belarus which carries out full and complex attendance of investment promotion process in the country and contacts both the authorities and commercial organizations. Non-state status of the Agency and commercial character of its activity give an opportunity to provide the clients with the services in the most efficient and disinterested way and avoid any kind of problems which are inevitable when dealing with the authorities.

The major services supplied by the Agency are the following:

• providing information on optimum ways and forms of investments to the Republic of Belarus and on all possible advantages and benefits available in the country, on better understanding the Belarusian market and obtaining success in it;

• providing information on investment projects which can be brought into effect in the Republic of Belarus;

• acquisition of information on the would-be partners clients are interested in;

• establishing connections with the authorities under instruction of the clients and organization of their visits to Belarus;

• search of partners for foreign investors and preparation of a recipient partner for investment assistance taking into consideration specific requirements of the clients;

• preparation of reports on specific branches of industry and spheres of activity, etc. (pointing out the peculiarities of any specific branch or region);

• preparation and formation of the judicial basis for investment activity in the Republic of Belarus and providing information on the trade possibilities, customs policy in the Republic of Belarus and other questions that may attract the client;

• providing information on the Privatization Program in the Republic of Belarus and facilitating participation in this program;

• acquisition, analysis and presentation of information on the enterprises with foreign authorized capital on the territory of Belarus;

• support of the clients not only at the in the beginning of their activity on the territory of Belarus but in prospect as well;

• organization of exhibitions, presentations of companies, joint seminars; providing meetings with target authorities in coordination with the client;

• organization of joint meetings of entrepreneurs from Belarus and other countries;

• execution of orders facilitating the profitability of foreign investments under instructions of investors;

• preparation of business plans;

• development and analysis of investment projects;

• assistance in realization of investment projects;

• promotion of training programs.

Within a short period of time the activity of the Agency is supposed to extend and some new services are to be rendered:

• promotion of access to financial sources (banks, funds, investment institutions, international organizations facilitating development of market relations in the Republic of Belarus; resources of the Agency, etc.) for Belarusian clients;

• control over management process in the period of realization of the project;

• assistance rendered to unprofitable enterprises (providing circulating assets, management assistance, etc.).

Within the framework of investment issues regional factors are of great importance. Several factors such as arrangement of productive forces, development of infrastructure, soil and climate conditions, etc. influence the investment situation and cause differences in the regions of the Republic of Belarus.

For the realization of the regional policy of the Agency it is necessary to work in the following directions:

• to separate functions of the republican (BFIPA) and local levels in the investment domain;

• to establish a system of investment support to regulate regional production potentials;

• to facilitate the development of local loans as an active instrument for the solution of territorial problems;

• to facilitate the development of joint republican and regional investment projects with the attraction of both Belarusian and foreign capital;

• to organize scientific and practical seminars on the problems of investment activity, on preparation of business plans in the regions and Minsk.

Together with the Ministry of Foreign Economic Relations it is necessary to make up investment passports for the regions and the Republic of Belarus. These documents will give full description of the territory, data about potential partners and needs in investment resources, and other information which is important for the attraction of foreign investors to solve problems of a particular region.

It is supposed to establish a two level system of Foreign Investments Promotion Agencies, where regional Agencies and BFIPA will be interrelated by means of an agreement.

Structure of BFIPA

Director General Rodion Tikhonov

There are three main departments in the Agency:

Investment Department;

Department of International Contacts and Public Relations;

Information and Analysis Department.

ADMINISTRATION

INVESTMENT DEPARTMENT OF INFORMATION

DEPARTMENT INTERNATIONAL AND ANALYSIS

CONTACTS AND DEPARTMENT

PUBLIC RELATIONS

DEPARTMENT OF REGIONAL CONTACTS