Creation of international financial center in Minsk discussed at Palace of Independence

Belarus hopes to become an international financial center using the experience of the United Arab Emirates. The possibility of the creation of a world-class center in Minsk was discussed today at the Palace of Independence.

At a meeting with the leadership of the Dubai International Financial Center, the President expressed appreciation for their interest in our country and noted that the states can work together in the digital economy.

The international financial center is a kind of free economic zone with state institutions that allow markets to function. Dubai Center was opened in the UAE in 2004. Today it has more than 800 different companies of the world that provide banking and insurance services, manage assets and funds. The structure has already united the Middle East, Africa and South Asia. The Belarusian financial center is designed to help attract investment capital to our republic and influence the economy of the entire CIS region and Europe. Last year, Belarus signed a memorandum of understanding with the Dubai International Financial Center. Presumably, the structure may appear on the territory of the former Minsk-1 airport.

Guests from Dubai are ready to share their experiences. After a meeting with Alexander Lukashenko, they signed a memorandum. First of all, the Belarusian financial center will focus on the region of Eastern Europe. There is no talk about concrete terms of creation, serious legislative changes will be needed in the future. As noted by the Dubai Center manager, the highlight of the international structure in Minsk will be modern financial technologies.

Our High-Tech Park is of particular interest for partners in the Middle East. The delegation of the financial center got acquainted with its work and noted that the HTP is a powerful center of competence in various fields. Dubai is interested in our IT companies and invites them to start cooperation with the United Arab Emirates.