Volozhin Region
Executive Committee

The Belarusian Finance Ministry is preparing a draft decree to establish an institute of a qualified investor in Belarus, BelTA learned from the Finance Ministry.

According to the draft document, qualified investors will be able to make transactions with a new type of financial instruments - depository bonds. The Finance Ministry will be able to draw up a list of securities with which only qualified investors will be entitled to make transactions.

The analysis of foreign practices shows that qualified investors can include professional participants in the securities market, banks, non-bank credit and financial organizations, leasing organizations, equity investment funds, management organizations of investment funds, insurance organizations, other persons with sufficient knowledge in the field of investment and with relevant financial capabilities.

It is proposed to allow the issuance of strip bonds in which both the principal and regular coupon payments are sold separately. The Finance Ministry believes that launching the mechanism of strip bonds in the Belarusian financial market will help increase the demand for bonds, produce representative interest rates for different borrowing periods, and, in general will give momentum to the development of the bond market.

In addition, the draft decree proposes to toughen the requirements for issuers of housing bonds.

Proposals for the draft decree can be submitted to the Finance Ministry from 16 to 26 October to the email address at This email address is being protected from spambots. You need JavaScript enabled to view it..

As of 1 October 2020, the broad money supply in Belarus amounted to Br50.368 billion, 1.8% down from 1 September, BelTA learned from the National Bank of the Republic of Belarus (NBRB).

Cash in circulation went down by 1.8% to Br4.009 billion in September.

Transferable deposits went up by 2.5% to Br5.613 billion. Transferable deposits of individuals rose 3.4% to Br2.757 billion as of 1 October. Deposits of companies increased by 1.6% to Br2.855 billion.

The money supply in national terms amounted to Br18.436 billion, 3.3% up in September.

The volume of national currency securities issued by banks (outside bank circulation) reduced by 3.1% in September to Br1.394 billion.

As of 1 October, the ruble money supply amounted to Br19.83 billion, 2.8% up from 1 September.

The volume of foreign currency deposits decreased by 4.9% to Br29.098 billion.

Belarus President Aleksandr Lukashenko held phone talks with Tajikistan President Emomali Rahmon on 12 October, BelTA learned from the press service of the Belarusian leader.

The Belarusian head of state congratulated his counterpart on a convincing victory at the presidential election. The leaders of the two states touched upon a wide range of topics, including bilateral relations, the latest developments in the region and the situation in the world. They focused on the situation in Kyrgyzstan and Nagorno-Karabakh.

Talking over the Belarus-Tajikistan cooperation, they described it as vibrant. “Despite the current crisis in the global economy, the countries manage to considerably increase mutual trade. In January-June 2020 the bilateral trade soared 2.5 times year-on-year. The presidents spoke in favor of further strengthening of industrial cooperation, including for entering third markets, and the expansion of mutual supplies,” the press service said.

COVID-19 was another theme the two presidents discussed. Emomali Rahmon stressed that the situation with the novel coronavirus in Tajikistan is under control. The heads of state shared opinions on counteracting the infection spread.

The 27th edition of the Minsk International Film Festival Listapad will be held in the Belarusian capital city from 6 to 13 November 2020.

This year's slogan is "Magic of Image" which refers to the unique nature of cinema. Thie visual concept is a tribute to the legendary Belarusian film "The City of Masters", BelTA learned from the organizers.

“The slogan ‘Magic of Image' emphasizes that cinema is a magical process. It reveals the world around us in all its completeness, complexity and richness. The image, the skillfully constructed mise-en-scène, the combinations of color and shadows fascinate us, revealing not only the nuances of the plot but also serving as the key to the meanings and ideas of on-screen stories,” the organizers said.

The visual concept of the festival focuses on the main character of Vladimir Bychkov's fairy tale "The City of Masters". This iconic Belarusian film turns 55 this year. Stylized as a colorful medieval ballad, the movie captivated many generations of Belarusians. The brilliant music by Oleg Karavaichuk gave the fairytale an intellectual sensibility, almost impossible in children's cinema. The movie celebrates freedom and patriotism, heroism and will power turning the fairy tale into an instant classic.

For foreign members of the jury and representatives of the media, the directorate will hold Listapad in an online format. Screenings for viewers will be held in the cinemas where social distancing and other safety measures will be ensured. “This year is challenging for the festival and the entire film industry. However, the power of cinematography can serve as a panacea for many hardships today. Despite all the difficulties, life goes on. This is why the format of the festival this year will be different from all the previous ones,” the organizers informed.

The Listapad Festival has been accredited by the International Federation of Film Producers Associations (FIAPF) as a competitive festival of films created in the countries of the former socialist camp: the CIS, Central and Southeast Asia, the Baltic countries, Eastern and Central Europe, and Cuba. Listapad is organized by the Center for Visual and Performing Arts "ART Corporation". The founders are the Culture Ministry of the Republic of Belarus, the Minsk City Executive Committee.

The China-Belarus youth competition of research and innovation projects has received around 200 applications from all Belarusian universities and Chinese undergraduate and postgraduate students who study in Belarus and at Northeastern University of China, Chairman of the Belarusian State Committee on Science and Technology Aleksandr Shumilin said as he attended the opening ceremony of the competition on 13 October, BelTA learned from the press service of committee.

He stressed the importance of the youth competition as it is aimed at developing innovative ventures of the youth. “Belarus lays great emphasis on the development of innovative ventures of the youth and pins hopes on young, energetic, and creative people who are ready for discoveries and constant search for something new,” Aleksandr Shumilin stressed.

He also noted that the China-Belarus youth competition of research and innovation projects is an excellent addition to activities meant to promote the startup movement in Belarus. Last year, the country hosted more than 400 events centered around startups.

Large-scale annual events featuring Chinese scientists, specialists, students, and young researchers have also become a tradition in Belarus. These events include the Belarus-China youth innovation forum New Horizons, the international competition of translation of scientific and technical texts, the Belarus-China international competition and festival of arts Belt and Road. “Our countries put effort in intensifying cooperation in science, technology, and innovations and commercializing the results of research activity. I believe that the China-Belarus youth competition of research and innovation projects will give a new impetus to our work,” Aleksandr Shumilin noted.

In recent years, the Belarus-China cooperation in science has actively developed. In the past five years, the number of joint projects soared by almost 50%. At present, the countries are implementing projects in microelectronics, optics and laser technology, biotechnology, new materials, and other fields. These projects are carried out with the support of the State Committee on Science and Technology of Belarus and the Chinese Ministry of Science and Technology. More than 30 projects are being implemented within the framework of the cooperation between the Belarusian Republican Foundation for Fundamental Research and the National Natural Science Foundation of China.

The China-Belarus youth competition of research and innovation projects is running in the Politekhnik science park under Belarusian National Technical University (BNTU) on 13 October. The competition is set to feature a presentation of more than 100 youth research and innovation projects in several fields: materials and chemical products, mechanical engineering and metallurgy, ecology, sustainable management of natural resources, waste recycling, energy saving, healthcare, sanitation, medical equipment, educational technology, and innovations in economy, culture, and art.

The organizers of the competition are the BNTU, the State Committee on Science and Technology, the BNTU Confucius Institute on Science and Technology, and the Chinese Embassy in Belarus.

Civil engineering is a growing industry in Belarus.

The industry makes a positive contribution to the country's GDP. Prime Minister of Belarus Roman Golovchenko made the relevant statement during the government conference held at premises of the ceramic construction materials manufacturer OAO Keramin on 13 October to discuss ways to bolster the industry's effectiveness, BelTA has learned.

Roman Golovchenko said: “Construction industry is a most important driver of national economy growth. The industry greatly affects social processes. Construction industry is traditionally an indicator that reflects the overall situation with the development of the country: if construction industry grows, it means the country experiences an upsurge. If construction pace declines, the country's economy experiences hard times. At present in comparison with many other branches of the national economy construction industry is a growing one and makes a positive contribution to the country's GDP.”

In his words, the volume of construction and installation work increased in January-August 2020. “Unfortunately, the epidemic situation in the world is having an effect on the export of construction services, engineering services, and architecture services. Their growth rate makes up 96% as against last year. The growth rate at enterprises that report to the Architecture and Construction Ministry is as little as 72%. I would like to know the reasons. I would like to learn whether the existing restrictions on travels between countries are to blame or the roots are deeper,” the prime minister told participants of the government conference.

Roman Golovchenko stressed that despite the rather good growth rate of the Belarusian construction industry, there are still certain problems with the construction of rented apartments and single-family homes. “There are also problems concerning the housing construction financing mechanism. These problems and many other ones were discussed as the head of state met with top construction industry officials. This is why today we should take a look at how the decisions made during that meeting are being implemented and what needs to be done in order to secure faster progress,” Roman Golovchenko noted.

Belarus is celebrating Mother's Week on 12-18 October.

Belarus' Deputy Labor and Social Security Minister Valery Kovalkov spoke about the forthcoming events as he talked to the media, BelTA has learned.

“Belarus marks Mother's Day with a series of events. This year Mother's Week will be held from 12 to 18 October. This week's events are called on to support traditions of caring attitude towards women, to strengthen family foundations, to emphasize the importance of the main person in our life - mother,” said the deputy minister.

Labor and Social Security Minister Irina Kostevich is due to meet with mothers of many children as part of a nationwide panel discussion. Ceremonies will be held to award mothers of many children with the Order of Mother. This high state award has been so far bestowed upon more than 11,000 women (682 in 2020).

For Belarus! alleys will be planted as part of the nationwide campaign “Mother's Heart – An Inexhaustible Source of Tenderness”.

The national creative contest among mass media “Strong Family - Strong State” will be reviewed and its winners will be named. A number of online themed events will be held.

Other activities as part of Mother's Week will include free legal consultations for mothers with many children, online consultations for citizens wishing to adopt a child, as well as for the families of adoptive parents.

The full plan of activities are available on the website of the Belarusian Labor and Social Security Ministry.

As of 11 October 77,220 patients previously diagnosed with COVID-19 have recovered and have been discharged from hospitals in Belarus, BelTA learned from the press service of the Belarusian Healthcare Ministry.

Belarus has registered 83,534 cases of COVID-19 so far. A total of 2,073,930 tests have been performed in the country.

As many as 896 COVID-19 patients suffering from a number of chronic diseases have died since the infection's outbreak in Belarus.

The tax system of Belarus should be simple and understandable to all citizens, Belarus President Aleksandr Lukashenko said as he heard out a report on the development of the national tax system on 12 October, BelTA informs.

The meeting was attended by First Vice Premier Nikolai Snopkov, Taxes and Duties Minister Sergei Nalivaiko and Finance Minister Yuri Seliverstov.

“Given a lot has been recently said about the redistribution of authorities, some officials obviously lack them, and this is right: the government and other authorities should do more and address non-characteristic matters instead of the president. I have recently received a note: a proposal was made to redirect 71 authorities from the president to all levels of power. But this is a separate subject, this is a kind of introduction to the main issue on the agenda. I absolutely do not want to interfere with the work of the government. Nevertheless, I want to discuss the improvement of our tax system with you,” Aleksandr Lukashenko said.

The president remarked that the tax system is one of the key elements of the economic policy; it should be easy and understandable to people. “We have done a lot in this field. But I remember we agreed that you will prepare a new, more exquisite taxation system, that you will upgrade the existing Tax Code where necessary and where possible. Our Tax Code is rather good, but nothing is perfect and we must always strive for improvement,” the head of state stressed.

In his words, the Tax Code should be “refreshed” just like the Code on Administrative Violations and the Code of Execution Procedure on Administrative Violations. “Good job was done. Perhaps, after the recent events we will have to amend some articles. Probably, this is life. We need to do the same with the Tax Code. Of course, there will be less work, less amendments, but we need to do it,” Aleksandr Lukashenko said. “Of course, the government and other agencies will work on it, but I will keep this matter under control.”

According to the president, it is also necessary to continue the digitization of the tax legislation. “The prime minister of Russian (he personally worked on this matter, we are in close contact) suggested that we should look t the tax system of the Russian Federation. Some people view it as the most balanced one. But if they have made more progress in some areas, we should not be afraid to use their best practices. Moreover, if they are sharing it with us for free – software and other things. We need to facilitate the process of digitization and to make the tax system more transparent. The tax recovery should be closer to 100%,” the head of state said.

At the same time, he remarked that a lot has been already done in this area in Belarus. Aleksandr Lukashenko asked if there was an expected outcome and what solutions would be taken in the near future.

According to Sergei Nalivaiko, tax authorities generating almost 70% of the consolidated budget revenues collected Br17.7 billion worth of taxes in January-August. “The planned assignment of the consolidated budget has been fulfilled by 96.5%. The shortage made up Br700 million. This is mostly attributed to the epidemiological situation in the world,” the minister explained.

“If we manage to keep this level, it will be okay. We need to do our best to reduce the shortage a little bit, although it will not be easy. You see that the second wave has started in the world. And our economy is export oriented, we depend on it. We need at least to maintain these parameters,” the president said.

According to the Taxes and Duties Ministry, the digitization of the tax system provides for the formation of the unified system of intellectual data processing, the organization of the database of revenues and incomes of individuals, as well as the further development of existing information systems of tax bodies and the expansion of the spectrum of electronic and digital services.

In particular, it is planned to digitize information and documents of taxpayers in the information resources of the Taxes and Duties Ministry and in other sources of public administration bodies. Then it will be possible to introduce an intellectual system of risk analysis in taxation.

In the process of developing a database of income and spending of individuals tax bodies will optimize and reduce the number of records which taxpayers submit to government bodies; the process of registering such reports will be automated. Taxpayers will be able to use a contactless network of services. New electronic services will be available in the taxpayer's account.

According to the initiators of the digitization process, it will help make the system of paying taxes simpler, more transparent and user-friendly.

Proper conditions for the work of the IT industry have been enabled in Belarus.

Prerequisites for further growth are also available. Director of the IT company PandaDoc Dmitry Rabtsevich made the statement on the air of the TV channel Belarus One as he commented on results of the conversation with Belarus President Aleksandr Lukashenko in the pretrial detention center of the State Security Committee (KGB), BelTA has learned.

Dmitry Rabtsevich believes that all the conditions for paying normal salaries, for growing, and for building the future together are available in Belarus' Hi-Tech Park.

The executive said: “It seems to me an IT country has been built: there is a foothold, knowledge, skills of the personnel, there are good conditions, in particular, the Digital Economy Development Ordinance and tax preferences, that allow the industry to develop in the future the way it develops now. All the conditions have been enabled for doing business. The Digital Economy Development Ordinance may be amended.”

Dmitry Rabtsevich also admitted he had been surprised by Aleksandr Lukashenko's visit to the KGB pretrial detention center. “The format of the conversation was not intensive, it was simple. The atmosphere was supposed to shape a dialogue about a way out of the situation, to air ideas regarding amendments to the constitutional system. A dialogue took place,” he specified. He mentioned future economic development as one of the key matters that were also discussed.

“I am going to work and develop. It is probably the main message I've come to realize,” he concluded.