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Sunday, April 5, 2020

German investors satisfied with returns on investments in Belarus

Vladimir Avgustinsky, the head of the German Economic Office in Belarus, said recently that approximately 70 percent of German companies operating in Belarus would invest in the country again.

Avgustinsky, speaking during a presentation on the Belarusian business climate, found in a survey of 42 companies with German investment in Belarus that more than 50 percent are satisfied with the nation's economic situation, and 90 percent are happy with their economic performance, BelTA reports.

"Comparing business climate in Belarus and other countries, 70 percent of the German companies said that they would choose Belarus again for their investments," Avgustinsky said, according to BelTA. "The composite assessment and comparison of Belarus' business climate has suggested that Belarus is ahead of the neighboring states--Russia and Ukraine--in this regard."

Approximately 40 percent of the German companies increased their investments, up from 24 percent last year, while one-third of the companies plan to expand their investment spending, and one-fifth plan to hire more employees.

Political stability, infrastructure, qualifications of the workforce and the quality of academic education in Belarus were all cited as positives of investing in Belarus, BelTA reports.

"It should be noted that the businessmen were quite happy with the tax system, too," Avgustinsky said, according to BelTA.

The companies surveyed included 13 manufacturing companies, 20 companies working in the service sector, nine trading companies, five energy and water companies and two construction and development companies.