"As for our 58 rank, I would say that it gives more reasons to further work but not reasons to rest satisfied, the source noted. – Yes, we are well ahead of Russia and Ukraine. Poland, our other enamoring country – EU member, is close to us, its rank is 55. The difference between two countries is a few ranks only, but let’s recall the volume of investments attracted by Poland. We can see that despite a considerable improvement of conditions for doing business and quite a high rank in the World Bank rating Belarus still remains underappreciated by investors today ".
According to Klevzhits, Belarus has to continue to improve its investment image, "present all its opportunities including those that emerge due to the membership in the Common Economic Space with Russia and Kazakhstan". The Belarusian Investment Forum to be held in November is a “one step to achieve these goals”, the source stressed.
The NAIP’s experience shows that ratings are used to specify investment risks both positive and negative "as before to launch an investment project t is necessary to develop a financial model where all risks are included”.
"The rating of the Organization for Economic Co-operation and Development is used for these purpose more often than the rating of the World Bank. Unfortunately, the OECD considers Belarus as a country with a quite high investment risk”, Klevzhits stated. “As a result a foreign investor can take a credit for financing of projects at 3-5% or even less in its country, but requirements of financial organizations will be considerably higher for financing of Belarusian projects”.
"NAIP has recently faced the similar problem while working with the project of an investor from Eastern Asia who plans construction of biopower complex in Belarus. Taking ratings into account the bank in the investor’s origin country laid down very strict requirement and requested the Belarusian counterpart to provide collateral guarantee ", the source said.
"That’s why we have to work hard to propel Belarus to the top of countries with the best investment climate and investment inflow", – the Director of NAIP stated.
Dmitry Klevzhits pointed out that Belarus’s rank in Doing Business – 2013 is 82 according to the index “protecting investors". "The Draft Law on investment activity is undergoing second reading at the Parliament. According to this Draft Law investors will be provides with guarantees that were not provided before or the interpretation of these guarantees was not so clear or precise, – Dmitry Klevzhits said. – I have no debts that when this Law is adopted international experts will see its true value and Belarus will advance in all ratings including the rating of Doing Business".
Dmitry Klevzhits expressed his confidence that “Belarus has all possibilities to improve other "weak" positions”.