March 29, Minsk /BELTA/. Approaches to the development and examination of business plans for investment projects in Belarus will be tightened. Prime Minister Mikhail Myasnikovich signed the corresponding directive dated March 26, 2013, "On Certain Measures to Tighten Approaches to the Development and Examination of Business Plans for Investment Projects," the government's press service informed BELTA.
The document is adopted to enhance the efficiency of business planning and eliminate the possibility of unjustified overstatement of cost indicators in business plans for investment projects.
Republican government bodies and other state organizations subordinate to the government, regional executive committees, and the Minsk City Executive Committee are instructed, when developing and examining business plans for investment projects, to ensure the implementation of approaches that provide for economy, thrift, and optimal solutions, taking into account the implementation timelines of such business plans. Priority should be given to investing in technologies and equipment, as well as the rational and economical use of funds, achieving the target result with minimal costs.
The directive provides for comparing the costs of implementing business plans for investment projects with analogues used in global practice.
The Ministry of Economy and the Ministry of Finance, jointly with interested government bodies, must prepare and submit to the government by May 1, 2013, a draft normative legal act on amendments and additions to government decisions regarding the development and examination of business plans for investment projects, in terms of establishing a number of requirements. These include requirements for the mandatory calculation and justification of investments in construction when developing business plans for investment projects in accordance with the construction norms of Belarus, as well as for conducting an examination of business plans regarding the optimality of technology choices applied to investment projects, their innovativeness, and the timely repayment of credit resources attracted by the government or obtained under government guarantees. Attention will also be paid to the feasibility of implementing business plans for investment projects as a whole, including the justification of investment costs and technological solutions.