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New projects and cooperation agreements
The Belarusian Investment Forum, which was held on Monday as part of the National Day of Belarus at the World Exhibition Expo 2020 in Dubai, was expected to attract a lot of attention from businessmen from the United Arab Emirates and the Gulf states. Our country is not new to this region. Therefore, the forum has become a platform for discussing specific projects and concluding important agreements. The correspondent of "R" found out what Belarus is interesting for investors, with what arrangements the forum participants returned to the country.
A landmark day
On November 22, the world's tallest building, the Burj Khalifa, was painted in the colors of the National Flag of Belarus. Our country received such an honor during the National Day at the World Exhibition Expo 2020 in Dubai. Its key event was undoubtedly the Belarusian investment forum, which brought together the business elite from the UAE, the Persian Gulf and the Middle East. Its main goal is to bring together professionals and high—ranking representatives of the private and public sectors on one platform to discuss current challenges and new investment opportunities.
In total, about 150 people took part in the forum. Among them are owners and top managers of companies from the UAE, Turkey, Pakistan, Egypt, investment funds from the UAE, Qatar, Oman. Belarus was represented by the administration of the Great Stone Industrial Park, the Hi-Tech Park, investment consultants and others.
The interest in the event was enormous. The organizers were not even able to satisfy all the applications for participation that they received. This is a good signal that indicates the interest of business in Belarus, Economy Minister Alexander Chervyakov believes:
— Dubai is the heart of the financial activity of the United Arab Emirates. This global trade and economic center combines the interests of the East and the West, is the "entry point" for foreign companies that plan to work in the countries of the Persian Gulf, the Middle East and North Africa.
Alexander Chervyakov voiced five reasons why foreign investors choose our country to implement their projects:
— The first is a favorable geographical location. The second is membership in the Eurasian Economic Union. The third is high human capital. According to the World Bank index, Belarus ranked 36th among 174 countries in terms of human capital potential, which confirms the high level of healthcare, education, and competencies in the country. The fourth is the resource potential. Belarus provides more than 18 percent of the world's demand for potash fertilizers, with its own raw materials — woodworking and agriculture enterprises. But the key resource is the unique nature. And, of course, the investment climate. Practically the entire territory of the country is effectively functioning preferential regimes. Companies can reduce investment costs and tax burden when placing their business in free economic zones, the Hi-Tech Park and the Great Stone Industrial Park, on the territory of small and medium-sized cities. But the key in our investment policy is trust at the state, corporate and, of course, human levels. Without trust, there is no investment.
Contacts and contracts
During the Belarusian Investment Forum, the possibilities of expanding the Belarusian-Emirati investment cooperation, promising joint projects in certain sectors of the economy were considered. The heads of investment funds, organizations and large companies of the UAE were presented with the existing conditions and resources for investing in Belarus, measures taken at the state level to stimulate business and investment activity, the advantages of doing business under special legal regimes, examples of successful investment cooperation between the business circles of Belarus and the UAE.
It should be noted that the Belarusian Investment Forum has become the largest, but not the only place for business meetings. Negotiations with representatives of Azerbaijan, Malaysia, Great Britain, Latvia, Ukraine and other countries were held at the venues of the Belarusian pavilion and the pavilions of the participating countries of Expo 2020.
At the forum, Chairman of the BelCCI Vladimir Ulakhovich and Chairman of the Abu Dhabi Chamber of Commerce and Industry Abdullah Mohamed Al-Mazroui signed an updated agreement on cooperation between the two organizations.
— Vladimir Ulakhovich also held talks with the Executive Director of the Dubai Industry and Export Agency Syed Al Awadi, Secretary General of the Federation of Chambers of Commerce and Industry of the UAE Humaid Mohammed Bin Salem, Secretary of the Board of Directors of the Fujairah Chamber of Commerce and Industry Hameis Mohamed Alzeoudi, the BelCCI reported. — The heads of business associations of Belarus and the UAE discussed the main areas of work to support export-oriented enterprises, the possibility of holding joint business and exhibition and fair events, issues of cooperation in the field of halal certification, as well as prospects for expanding cooperation between regional chambers of commerce and industry.
Within the framework of the forum, Vadim Babarikin, CEO of Beltamozhservice, and Ascanio Martelli, Managing Director of Saimeco Group (Italy), signed a cooperation agreement.
— The parties confirmed their desire to develop mutually beneficial business cooperation based on close cooperation in the development and implementation of innovative approaches in the field of export and import, services, trade and logistics (provision of stockbroker services, logistics, freight forwarding, warehousing and customs services), as well as assistance in finding suppliers and buyers of products in in other countries," Beltamozhservice noted. — The purpose of this agreement is to increase the potential of the parties, as well as the development of foreign economic activity, trade and transport attractiveness between the countries of the European Union, the Republic of Belarus and the United Arab Emirates.
Also, the National Agency for Investment and Privatization signed an agreement with the network business platform of the Persian Gulf countries EurAsia Gulf. NAIP will have a local partner to promote investments in Belarus from the UAE and Saudi Arabia.
It should be noted that the business calendar of Belarus' participation in the World Exhibition Expo 2020 was not limited to holding an investment forum. Yesterday there was a presentation of the export opportunities of the petrochemical industry enterprises of the country, and the days of the Minsk region are scheduled for December 6. On January 24, the Brest Region will present its potential. Presentations of the tourism and export potential of the region, acquaintance with investment projects of the leading enterprises of the region are provided. VR presentation of the SMART BREST innovation project and familiarization with the investment project of the future development of Brest "River Pearl" are expected. In addition, B2B and G2B negotiations are planned. Next year, presentations of the Grodno, Mogilev and Gomel regions will be held. The days of tourism of Belarus and Belarusian science are planned.
