Belarus is located in the heart of Europe at the crossroads of trade routes from West to the East, covering a total of 207,600 sq. km. It borders Lithuania and Latvia to the north, Ukraine to the south, Russia to the east, and Poland to the west. Minsk, the capital, is located on the same latitude as cities like Hamburg and Dublin and is only two time zones ahead of London. The costs of living, education, and various cultural events are lower than in the majority of European countries. The advantageous economic and geographical location, developed transportation, logistics, and manufacturing system of the country, along with its membership in Eurasian Economic Union of Belarus, Russia, Armenia, Kazakhstan, and Kyrgyzstan (EEU), creates unique opportunities for companies willing to develop business relationships in the Eurasian region.
Belarus strives to create open and favourable conditions for business. It is currently working to further increase economic efficiency and develop beneficial relationships with strategic investors. It has already selected approaches for step-by-step privatization and has elaborated a number of market entry and localization related incentives. Priority sectors for investment and localzation are IT outsourcing and software development, green and renewable energy, transportation and logistics, machinery and equipment, agriculture and food production, and infrastructure. Today the country is the leader in legislation improvement, confirmed by the World Bank’s surveys.
All of the above-mentioned aspects are likely to be considered by investors as a basis for further expanding business in Belarus.