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Red tape still stifling investment business in Mogilev Oblast

MOGILEV, 16 November (BelTA) - Bureaucratic hurdles still complicate investment activity in Mogilev Oblast, Deputy Chairman of the Mogilev Economy Committee Viktor Krasovsky told BelTA. In his words, there has been done a lot in the country, and in Mogilev Oblast in particular, to create favorable conditions for business and investment activity. The country’s legislative base has been made fully compliant with the European law. A program to support small and medium-sized business has been recently launched in Mogilev Oblast. The effort aims to create civilized conditions for entrepreneurship and healthy competition among producers. The region is expected to earmark over Br3 billion for the implementation of the program in 2011. This year financial support has already been provided to 20 small business investment projects. At the same time investment activity has not reached the desired level yet. Investors need be treated better, and the local authorities should take a more active part in supporting and controlling the implementation of projects. The authorities should show more initiative and interest in attracting additional resources in their areas. Unfortunately, there are still a lot of examples when good business proposals are ignored. “I believe such attitude needs to be changed. In the current economic conditions the authorities should be more interested in investment inflow, jobs creation, and additional revenue to the budget. But due to lack of responsibility and laziness they often lose profitable and promising projects,” Viktor Krasovsky said.

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