BELARUS NEWS AND ANALYSIS

DATE:

05/03/2008

Belarusian President Gives Foreign Investors Go-Ahead

In a decree on March 4, Alyaksandr Lukashenka abolished legislation that was seen as scaring off foreign investors, Belapan and RFE/RL's Belarus Service reported. Lukashenka's press office said that the decision to eliminate the so-called "golden share" rule will "contribute to creating favorable conditions for drawing foreign direct investments into...the Belarusian economy." The "golden share" rule, introduced by Lukashenka in 1997 to "regulate the privatization process," allowed the authorities to intervene in the activities of joint-stock companies in which the government held a stake, and to install government-appointed managers whenever the company was thought to be facing an "unfavorable socio-economic situation." Under another decree issued in 2004, the government could apply the "golden share" rule to any enterprise formerly owned by the state, regardless of its current ownership. The decision to eliminate the legislation was welcomed by the International Monetary Fund. AM

Source:

http://www.rferl.org/newsline/2008/03/3-cee/cee-050308.asp

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