EU4BUSINESS IN BELARUS

The Belarusian economy is founded on large state-owned enterprises. SMEs account for around a fifth of GDP, below the EU average, and it has been a challenge for small privatised companies to flourish. Initiatives have though been put in place to encourage innovation and support SMEs. EU funding, channelled through EU4Business, focuses on improving access to finance and foreign markets, building business skills and encouraging entrepreneurship.

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Events

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News/Press

Armenia Armenia gets one-year customs tax break within the framework of the Eurasian Economic Union. Lower rates than the single EEU customs tariffs shall be applied in Armenia for more than 600 items of goods imported. https://bit.ly/2CgClbe...
Armenia VTB bank joins the governmental 3 rd assistance action programme aimed at mitigating the liquidity risk of SMEs to offset consequences of coronavirus pandemic jointly with the Ministry of Economy and the Investment Support Center. It enables...
Armenia 820 SMEs have already received assistance from the Armenian government through its 3 rd action. Ministry of Economy suggests applying for preferential loans up to a maximum of 50mln AMD (more than US$ 104,500) by June 30, 2020. https://bit...

Success stories

Coming out of nowhere, the coronavirus pandemic has swept away many jobs in the restaurant, tourism, construction, and international transport businesses. Yet, not everyone who found themselves unemployed was not afraid of change. A project called "Local support for economic development in Belarus" has provided these individuals with the opportunity to learn something new and find themselves a...
Today, Nelva has 250 employees, 14 stores and thousands of fans in Belarus, Russia and Ukraine. Deputy Director Irina Rakhmanova speaks of how the ambitions of a few students grew into a large-scale business. Her speech is filled with such passion and enthusiasm that it immediately becomes clear why this could not have been any other way. 10 years from reselling knitwear to owning a chain of...
Supporting the growth of a leading fashion retailer in Belarus Andrey and Svetlana Serikov seem like an ordinary couple, but little do people know that they are actually two of the most influential people in the fashion industry in Belarus . So influential, in fact, that they have a medal for their contribution to the development of the retail sector in the country presented to them by its...