Privatisation in Belarus is slowly coming back to life after almost two years of lethargy. Most interested investors come from Russia. In August 2013 the Government approved two strategic investment bids for Minsk Margarine Plant and Konfa. 2014 has already marked its first transaction: sale of 99.5% shares in BELGIPS to the Russian Volma Corporation for USD 5.27 million (approx EUR 3.79 million) by Presidential Decree. The terms of this privatisation also include significant investment undertakings by the buyer. The most interesting transactions expected in the near future are sale of Mozyr Oil Refinery shares to the Russian Rosneft, and formation of a MAZ-KamAZ joint venture.

Open calls for investors interested in state enterprises are sometimes announced on the official web sites of the State Property Committee and of the National Agency for Investment and Privatisation of Belarus. In the fourth quarter of 2013 the Government accepted offers from prospective strategic investors for Medplast and Belgazstroy. There was also another, though unsuccessful, contest for sale of 51% of state shares in Mobile TeleSystems. Announcement of the terms and conditions of the Grodno-Azot privatisation – a major Belarusian chemical company – is expected in the near future.

Since October 2013 the State Property Committee has been analysing demand for various state property objects, in the shape of both assets and shares in enterprises. From time to time the Committee posts lists of enterprises and assets for sale on its web page. At present, in addition to open calls announced, an investor can file an expression of interest in any object from the lists available on the web page. This may later result in a tender or auction for the object, as the President decides.

A typical privatisation scheme may look like this:

Click here to view the table.