Businessman Siarhei Levin: I Do Not Believe In Any Reforms In Belarus

One can’t afford making even a technical mistake in business in Belarus.

Belarusian businessman, Chairman of the Supervisory Board of perfumery and cosmetics factory Sontsa (manufacturer of household chemicals) Siarhei Levin said that in his interview to the Polish newspaper Dziennik Gazeta Prawna.

“I do not believe in any reforms in the near future. The current model of relations between the government and investors can be improved, but there will be no structural changes,” – Siarhei Levin said.

“Oil, oil products, fertilizers – all this belongs to the state and provide most of the GDP. We do not have the investment climate in the European sense of the word, or favorable conditions for development of small and medium-sized businesses. But there are many plants, based on advanced technologies, in Belarus. If they exist, that means there are some opportunities. Therefore, Belarus should not be treated interestedly. Perhaps, there are only a few strong and competent players left in the country, because of the difficulties. It is impossible to survive in another way,” – the businessman said.

He added that Belarus has its own trump cards, such as an open door to the CIS countries and the small competition. In addition, the access to funds has increased in recent years, and the tax system has become more transparent, although the practice of applying the law by tax authorities is often incredible.

“Any small deviation and your bank account is arrested!” – Levin warned and enumerated a few principles of running business in Belarus. First, one has to pay taxes. Second, to know the complex tax rules and stick to them. Third, to use the services of perfect Finance and Justice advisers.

“Western businessmen complain that it’s difficult to work in Belarus. However, when we start talking about the details, it turns out that they have not met any of the rules (...) One can’t afford making even a technical mistake in business in Belarus,” – the businessman warned.

Reference

Siarhei Levin is 45 years old. He has graduated from the Minsk Suvorov Military School, the Leningrad Higher Military School of Communication.

He was the head of the representative office of the investment bank Renaissance Capital in Belarus, the Chairman of the Supervisory Board of CJSC Brewing company Siabar and FE Staraya Krepasts (juices and nectars “Juicy”).

Now he is the Managing Director of Lebortovo Capital Partners (investment projects in Belarus), the Chairman of the Supervisory Board of the cosmetic factory “Sontsa,” which produces detergents and household chemicals (such as washing powder “Mara,” gels and shampoos “Krasa”), the head of the company Zvezda Capital.