Belarus Witnesses Surge in Foreign Investment Inflows in 2023

Belarus experienced a notable increase in foreign investment inflows in 2023, with total investments reaching $7.7 billion, according to the latest data released by the National Statistics Committee.

The majority of foreign investment originated from various sources, with one notable contributor constituting 66.7% of all incoming investment. Cyprus emerged as the second-largest investor, contributing 14.7% to the total foreign investment inflows. Foreign direct investment (FDI) constituted the bulk of incoming investment, amounting to $5.8 billion, or 74.8% of the total.

Belarusian organisations also demonstrated an active engagement in international markets, with total investments abroad reaching $5.7 billion in 2023. Direct investment accounted for a substantial 80.1% of all investment directed abroad.

The surge in foreign investment inflows underscores Belarus’ growing integration into the global economy and its efforts to attract international capital to drive economic development. The influx of foreign capital is expected to fuel key sectors of the Belarusian economy, including manufacturing, infrastructure development, and technology innovation.

Looking ahead, Belarus aims to capitalise on this momentum by implementing strategic initiatives to promote investment and foster an enabling business environment. Strengthening bilateral and multilateral partnerships and promoting investment-friendly policies will be crucial in unlocking the full potential of foreign investment to drive inclusive and sustainable economic growth in Belarus.