Small businesses account for 40% of the tax revenues the Minsk Oblast budget receives, BelTA learned from Deputy Chairman of the Minsk Oblast Executive Committee Nikolai Rogashchuk.

The deputy head of the oblast administration said: “Small and medium business vigorously develops in Minsk Oblast. For three years in a row we've been the best region in terms of entrepreneurship development. Last year small business contributed over 33% of the gross regional product. This year we expect the figure to reach 34.2%. On the whole, small business accounts for 40% of the tax revenues.”

At present Minsk Oblast is home to over 60,000 small and medium businesses, including about 40,000 self-employed businessmen. According to Nikolai Rogashchuk, the share of small business is expected to rise in 2020.

Both small and medium businesses implement investment projects. Naturally many of them are located closer to Minsk. However, attractive land plots earmarked for investment projects are available in the region, too. “We would like to also develop the territories located far from the capital city: Berezino District, Krupki District, Staryye Dorogi District, and Stolbtsy District. First of all, we look forward to the arrival of industrial enterprises, which create most of the added value. Land plots for investment contracts have been earmarked in the region. The free economic zone Minsk develops vigorously. Infrastructure in Zhodino and Cherkassy will be developed. We are ready to consider all proposals of the private sector,” he concluded.