WB expert: Belarus is becoming more attractive for Chinese investors
07 April 2016
Belarus and other Eastern European countries are becoming increasingly attractive for Chinese investors, Hans Timmer, World Bank Chief Economist for Europe and Central Asia, told journalists during the presentation of a WB economic update on the Europe and Central Asia (ECA) region on 7 April, BelTA has learned.
Hans Timmer said that the climate for Chinese companies in Belarus and other Eastern European countries is improving. Besides, China seeks to involve these countries in the construction of the Silk Road Economic Belt.
However, the WB expert pointed out that the inflow of Chinese investments into the economies of the region will not increase automatically. The conditions for investors need to be further improved, including in terms of legislation.
The World Bank ECA economic update reads that the economies of Europe and Central Asia continue to face difficult headwinds in an increasingly complex and uncertain global economic environment. Oil-exporting countries and countries that depend on remittances from those oil-exporting countries are in recession, or close to recession. A historically slow pace of growth in global trade, low and volatile oil prices, and ongoing geopolitical tensions continue to adversely impact these economies. There is little hope that oil prices will rise considerably in the near future, although a slight increase is possible, Hans Timmer believes.