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Three firms granted Belarus' investment agent status

Three companies have been given investment agent status to “represent Belarus’ interests” in drawing investment, BelaPAN reports.

The Minsk-based Uniter investment company and two global professional services firms, KPMG and Ernst & Young, became Belarus’ first investment agents.

The Council of Ministers issued a directive to this effect on June 1, said the cabinet’s press office.

By his August 6 edict, Alyaksandr Lukashenka entitled legal entities and sole entrepreneurs, including non-residents, to apply for "the right to represent the interests of the Republic of Belarus in drawing investment.”

The companies were granted the status for the period until December 31, 2010.

Under the cabinet’s directive, the State Property Committee, the industry ministry and state petrochemical conglomerate Belnaftakhim will cooperate with the investment agents under the agreements.