Leu Marholin: Real Situation Refutes Lukashenka’s Conclusions

No investor will come to a country where he is not protected.

No investor will come to a country where he is not protected.

On November 17, Aliaksandr Lukashenka stated that the foreign business does not care about the parliament’s legitimacy in Belarus:

“These investors don’t give a damn about what will happen to the parliament in Belarus. They need a normal investment climate. Name at least one case where we have not defended a foreign investor ... (what is important for them) is not how Lukashenka forms the Belarusian parliament here.”

Economist Leu Marholin in a comment to udf.by noted that the real state of investment is the answer to Lukashenka’s statement about the “disregarding” mood of the foreign business.

“If investors really didn’t give a damn about the state of the legislative power in the country, the law-enforcement bodies, and the judicial system, then in our country, near Lukashenka’s Administration, there would be a line of businessmen eager to invest in the Belarusian economy. But the real situation refutes Lukashenka’s conclusions. Investors do care about the elections and the legislative body. Any investor wants to feel protected,” Marholin said.

The economist noted: in the modern world, it’s not investors, but those who would like to attract investment that are queueing. In this situation, the business has the opportunity to choose the best conditions, and the Belarusian authorities cannot offer them.

Marholin did not hesitate to name foreign investors whose rights were violated in Belarus.

“The most interesting thing is that even if there were no such cases, it would be unlikely that investors would aspire to our country. Before risking and investing personal money, the business goes to the Ministry of Foreign Affairs of their country and enquires information about the situation in another state. And there they will tell him: it seems to be normal in Belarus, but the legislation of this country will not provide you with protection. And besides, there the legislative power is absolutely subordinate to the executive one, therefore laws can be adopted at any time without warning - and even retroactively. As a rule, such a characteristic is enough for an investor to make a decision,” the economist said.