17 Nov 2010 15:41

Belarusian Economic Ministry forecasts FDI to increase by 21% for 2010

FRANKFURT. Nov 17 (Interfax) - Belarusian Economic Minister Nikolai Snopkov forecasts the inflow of foreign direct investment (FDI) into the country at $5.8 billion for 2010, which would be an increase of 21% from 2009.

"According to an estimate, total FDI into the Belarusian economy in 2010 will come to $5.8 billion, which is almost 21% more than in 2009," he said at the Belarusian Investment Forum in Frankfurt on the Maine on Wednesday.

He said that gross inflow of foreign investment into the Belarusian economy topped $9 billion in 2009.

Snopkov note that over 5,000 companies with foreign capital involvement had operations in Belarus. Commercial organizations accounted for around 5% of this figure. They support 13% of industrial production and 22% of export.

It was earlier reported that foreign investors put $6.34 billion into the Belarusian real sector (excluding banks) in January-September 2010, which was a year-on-year decrease of 6.5%. FDI for this period went up by 8% to $3.9 billion while inflow of miscellaneous foreign investment increased by 23% to $2.44 billion.

During the same period, net outflow of foreign investment came to $3.2 million compared to net inflow of $703.7 million for the same period of 2009.