1997 press releases

Embassy Statement on Investment Policy (November 6, 1997)

The U.S. Government currently does not encourage U.S. companies to invest in Belarus. This reflects our objective assessment of the economic conditions in Belarus. Businesses need to make plans. Therefore, they require a predictable business environment, with consistent, fair and workable laws and regulations. They also need an independent judiciary to which they can turn if a problem develops. Unfortunately, Belarus does not now offer such an environment. The investment situation is exacerbated by the fact that international financial organizations, such as the World Bank and the IMF, have had to cancel or suspend their programs of cooperation with Belarus. Many investors perceive the lack of support by the World Bank and the IMF as a signal that the Belarus's economy is not on the right track.

We will continue to support those American companies who already operate in Belarus. We hope that the economic conditions here will change so that we will be able to recommend investment in Belarus. To that end, we will continue working with the Belarusian government towards the improvement of business conditions. We very much want to see Belarus's economy grow and develop into a modern market economy.