Category: Belarus

The Glimstedt Belarus team has advised participants in “SocStarter” — a project dedicated to the development of social entrepreneurship in Belarus.

According to Glimstedt, “SocStarter is a free international training program for social entrepreneurs from Belarus with internships in the Netherlands, which will help to start and successfully grow their social project. The aim of SocStarter is to transfer experience of social entrepreneurs from the Netherlands to their Belarusian colleagues.”

In addition, firm Managing Partner Vitaly Kachelya was a member of the jury that selected “Tayamnitsy maysterstva” — an undertaking that aims to promote folk art and crafts and support the transfer of folk traditions from generation to generation — as the winner.

The Minsk office of Glimstedt has reported that it advised government and business representatives of the People’s Republic of China on their investment in a Belarusian-Chinese industrial park in the Smolevichy district of Minsk.

Glimstedt describes the industrial park — named the “Great Stone” park — as, “a territorial unit area of about 91 square kilometers with a special legal regime to ensure the most comfortable business environment.”

The firm reports that the park is expected to host both industrial and residential areas, offices and shopping malls, and financial and research centers. Ultimately, according to the firm, “it is about construction of a modern international eco-city, with a focus on high-tech and competitive innovation industries with high export potential.”

Property in Great Stone is available for investors from all countries — “regardless of country of origin of the capital” — and will be made available either for purchase or rent. Glimstedt also explained that the property “is guaranteed by both national legislation and international agreements and special obligations. In addition, investors are given unprecedented privileges and preferences, formed a separate and independent government body, performing comprehensive administrative support to the principle of ‘one stop.’”

Vitaly Kachellya, the Managing Partner of Glimstedt in Belarus, is expansive in his description of the park: “The global experience of industrial parks shows that it is an effective tool for the creation and implementation of production projects. The first industrial park in the world was established in 1896. English financier Ernest Tera Hooley acquired land along the sea channel in Manchester, creating in this area famous worldwide Trafford Park, one of the first residents of it was Henry Ford…

For Belarus, the creation of the industrial park is a unique project that can get rapid development thanks to the accumulated positive world experience. Glimstedt practice shows that in Belarus can be successfully implemented green field projects, which, coupled with the concept of the park, its location, the availability of skilled labor and the provision of essential benefits and preferences promises high profitability.

‘Great Stone’ has just started. To be pioneers in some aspects is not easy, but we, as a legal partner willing to support residents at any stage. It is important to bear in mind that in the future it can be difficult to come into these globally significant projects because of a higher threshold compared to that offered today.”

The Minsk office of Egorov Puginsky Afanasiev & Partners has been identified by the Belarus Ministry of Justice as one of the best organizations rendering legal services.

Dennis Turovets, Managing Partner of EPAM’s Minsk office, issued a formal statement announcing that: “We are grateful for the appreciation or our team in 2013 – with the support of the Minsk office of Egorov Puginsky Afanasiev & Partners there a number of high-value projects have been implemented for Belarus, of which we can be justly proud. The Firm holds a leading position in the major world rankings and the award by the Ministry of Justice of the Republic of Belarus was a continuation of a successful year for the office. We are especially grateful to our customers for the opportunity to participate in interesting projects and to the team for the efforts that resulted in deserved recognition and victories in the professional field.”

As reported on May 26, the Minsk office of Sorainen announced that it had won a similar award. When contacted, Dennis Turovets explained that “the Ministry of Justice may issue the award in question not to one but several law firms, which has been the case with our law firm and Sorainen.”

Sorainen has announced that the Belarus Ministry of Justice has named the firm’s Minsk office the “Best Provider of Legal Services in Belarus” for the third time.

The annual award is based on criteria such as number of qualified legal personnel, clients serviced in 2013, volume of services rendered in attracting foreign investment to Belarus, turnover and taxes paid, media activity, and absence of client complaints. According to a firm press release, Sorainen remains the only office of a European law firm ever to receive this recognition.

Belarus Managing Partner Kiryl Apanasevich was delighted at the news. “We are pleased to receive this award from the Ministry of Justice for the third time, as it proves our consistent leadership in the Belarusian market. We are grateful to our clients and team members who made this recognition possible.” 

Editorial Update (June 3, 2014): Egorov Puginsky Afanasiev & Partners announced that it had won a similar award reported by CEE Legal Matters here. When contacted, Dennis Turovets explained that “the Ministry of Justice may issue the award in question not to one but several law firms, which has been the case with our law firm and Sorainen.”

A consortium consisting of the Baltic Raidla Lejins & Norcous (RLN) and the Belarus Stepanovski, Papakul and Partners (SPP) law firms, along with KPMG offices in Hungary and Belarus, was selected to attract and generate investment to several Belarus state owned enterprises.

The consortium was selected from over 30 applicants by the Ministry of Economy of the Republic of Belarus and the Belarus National Agency of Investment and Privatization. The contract authorizes and empowers the consortium to attract investment to the “Baranovichi Reinforced Concrete Products Plant”, “Belsantekhmontazh-2”,  “Construction and Mounting Trust No 8”, and “Avtomagistral” open joint-stock companies.

The consortium will conduct financial, operational, and legal due diligence of the SOEs and an independent stock assessment in accordance with Belarussian and international methodological standards. They will also conduct investment risk analysis, develop strategies for attracting investors, and implement a marketing campaign.

It is expected that the project will have identified and selected strategic investors by the end of 2014.

Irmantas Norkus, the Managing Partner of RLN’s Lithuania Office, claimed that the project is part of the firm’s “obligation to provide highest quality services to potential investors in Belarus.” The team leader of the consortium is Tamas Simonyi, the Head of KPMG CEE Financial Institutions, M&A Advisory, and Director of Corporate Finance Advisory at KPMG in Hungary.