In order to encourage production in the private business sector, one should simplify licensing and tax practices, Statistics Minister and Chair of the Business Development Board Vladimir Zinovski told reporters in Mogilev on Friday.
In his words, around 90% of private businessmen in Belarus are engaged in commerce. After accumulating the initial capital, many of them would wish to expand and enter the production sector.
The latest updates of Belarus’ business legislation smile on production business development, however to make the most of it one would needs to introduce a declarative registration principle, simply tax and licensing procedures.
They also suggest simplifying import and export regulations, as well as crediting procedures with banks.