English

National Bank head questions EU`s reluctance to invest in Belarus

Pyotr Prakapovich, head of the National Bank of Belarus (NBB), said that he “does not understand” the European Union’s reluctance to invest in Belarus.

“There is no problem with investments today, because there are plenty of financial resources in the world,” he said. “They simply wink at the market that is developing rapidly and expected to receive more than $100 billion in foreign investment in the next five or 10 years. Others will get this market.”

Mr. Prakapovich said China currently accounted for the major part of foreign investment inflows into the Belarusian economy. “We didn’t know five or 10 years ago that China would become the main investor, did we?”

“If some country doesn`t want to invest in our country, it is up to it,” he said. “But it is not our concern. Whatever the situation may be, we will find the resources that we need.”

“Investment inflows into Belarus have recently increased significantly,” he said. “Why? Because the situation has improved. We joined the Customs Union and became members of the Single Economic Zone. Investing in Belarus today gives an opportunity to expand to this market, which comprises 170 million people.”

Mr. Prakapovich said the situation in Belarus is “stable.” “There are human resources to set up enterprises and work here,” he said. “Belarus is attractive for investors today and it will become increasingly more attractive every day.” //BelaPAN