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A Complete Failure to Attract Foreign InvestmentsPrime Minister Siarhiej Sidorski scolded his cabinet on November, 28 2008 — for the third time in the last six months.”We do not need statistical reports but concrete actions in this direction. We cannot survive without new investment programs, yet our bureaucrats do nothing while enjoying their stable salaries,” the Prime Minister sounded like a liberal economist. ” We should not have to wait, but to make the first step towards potential investors.” Sidorski described the situation on investments in Belarus as “shameful”. In fact, most investors spend several months trying to reach responsible officials in Belarusian ministries or executive committees in order to present their business projects — often without success. During the investment forum in London the Belarusian PM heard from the world’s leading companies interested in the Belarusian market.more than 30 negative opinions critical of the working style of Belarusian bureaucracy . Thus, a major American company ”Caterpillar,” manufacturing heavy construction machinery,has been for eight months tiptoeing next to the industry minister, proposing joint projects with the Belarusian BelAz. Eventually the minister declared that he does not need them. Even though the investor was ready to cooperate in developing a joint marketing strategy. Belarusian officials in the ministries do not want to assume personal responsibility on any project. Thus, they prefer to complicate the situation for an investor so that they may later refer to an unsuccessful business project in their annual reports. Belarusian officials have recently reported a growing rate of investments in the Belarusian economy. However, the specific weight of foreign investments in Belarusian economy is currently estimated as only 3.5 per cent. Its share is to increase to 5 per cent by the end of 2009. In PM’s view both branch ministries and local authorities sabotage government decisions on foreign investments. This bureaucratic attitude of being very careful is caused by none other than President Lukasenka himself, who exhorted the officials ” to be alert and selective” in choosing an investor. Moreover, it is the President who approves all major investment projects. Jarasłaŭ Ramančuk, an economic expert, believes that Belarusian authorities’ greatest problem is their lack of clear vision of country’s development strategy. Belarusian authorities create favorable conditions not for all economic entities, but only for those selected . Furthermore, the Belarusian government has in reality become nothing more but a secretariat of President’s Administration. Various branch ministries compete with each other for more favorable conditions for their activities instead of working out a clear strategy for the national economy. All these factors lead to a growing level of bureaucracy and corruption in Belarus’ government institutions, while many officials develop an immunity to any rebukes. Source: Web site NAVINY.tut.by, November 26, 2008 This article appeared in Belarusian Review, Vol. 20, No. 4 --------------------------------------------- Copyright 2008 Belarusian Review All rights reserved. belarusianreview@hotmailcom
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