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PM praises Belarus’ international ratings as good signal for investors

STOLBTSY DISTRICT, 30 April (BelTA) – Belarus’ improved international ratings serve as a good signal for investors, Belarus Premier Mikhail Myasnikovich told media on 28 April.

“We have received a stable rating at a time when a number of EU states, due to both objective and subjective reasons, have had their sovereign ratings downgraded. This is very good news. Suffice it to say that a rating is assigned to the country given the situation with its currency market and the balance of payments. Today we have an inflow of 1 billion in foreign currency,” the PM said.

Belarus climbed up 22 points to the 69th place in the WB’s ease of doing business rating. “It is of course not enough yet. Our goal is to reach the top 30, and we will do it if we work hard,” Mikhail Myasnikovich emphasized.

The Premier noted that today the knowledge-based economy rating is of immediate interest to Belarus. Since the country lacks primary resources, it should put its intellect into the gross domestic product, Mikhail Myasnikovich stressed. “Last year we went up by 14 points to accommodate at the 59th place. Here we have every chance to make it into the top 30,” he said.

“It is a good signal for investors, and we see that such fairly conservative organizations as the World Bank give us loans, for instance, for the construction of the M-5 highway to Gomel. We enjoy strong credit support from China and keep in touch with Russian companies,” the Prime Minister said.

Speaking about the forestry industry, Mikhail Myasnikovich stated that direct foreign investment in the forestry sector would make up nearly $300 million in 2011-2012 alone.

In his words, it is a brand new approach in the economy to develop new innovation solutions with high value added through FDI, not budgetary resources or loans.

The Premier stressed that the country attaches great attention to the conservation and development of spiritual heritage. “Up to $50 million are to be allocated from the budget to construct and upgrade theaters, castles and other landmarks,” he said. A large-scale project is under way at the Belarusfilm studio. “The state is currently well-positioned to preserve and develop its cultural and historical legacy. It proves the fact that the national economy works well, and we have good prospects,” the Prime Minister added.