Belarusian Economic Research and Outreach Center

Foreign Investment: Startups and Innovations or Loans

Although the government’s plans to raise foreign financing were fulfilled, the results of 2017 were ambiguous in this respect. The private sector and, especially, hi-tech startups generated investors’ profound interest. Investments in the public sector were provided by the state through external borrowing and redistribution of funds raised this way. The public sector thus remains unattractive for investors, but, in fact, it seeks state subsides, rather than investments. In 2017, the government took a number of important steps to improve the regulatory framework for investment and to stimulate business ventures.


  • A regulatory framework is created to stimulate investment and business initiatives;
  • Viability of the public sector is maintained through the redistribution of state loans;
  • Investments in technological startups are growing amid zero interest in the public sector on the part of investors

The policy paper was published in the Belarusian Yearbook 2018, which is presented under the aegis of the Agency for Social and Political Expert Appraisal and expert community of Belarus Nashe Mnenie ("Our Opinion").