Cyprus – largest ‘investor’ in Belarus’ economy
15:41, — Economics
The Mediterranean offshore is second after Russia in terms of direct foreign investments in Belarus.
The National Bank has published the data on the balance of foreign direct investments with subsections for capital contributions and debt instruments in regards to the investments’ countries of origin.
As for 1 January 2013 direct foreign investments in the economy of the Republic of Belarus accounted for 14 544,21 million USA dollars, out of which 13 403,49 million dollars were capital contributions, and 1 140,72 million dollars – debt instruments.
Top-five investors are Russia, Cyprus, Turkey, Austria and the Netherlands.
There are very exotic countries among the ones that invested in the economy of Belarus – Virgin, Marshall and Cayman Islands, the Republic of Seychelles, St. Vincent and the Grenadines, Saint Kitts and Nevis. However, they are in no comparison with the Cyprus’ offshore, that companies from which have invested 1 637,92 million dollars in Belarus. For comparison, only 14,81 million dollars came to the Belarusian economy from the Virgin Islands, which found themselves in the middle of an international scandal after the publication of the data of dozens of thousands of offshore companies.
We would remind that direct investments are a kind of international investments, implying that a resident of one country has control or significant influence on managing an organization, which is a resident of a different country.