Łukašenka approves law on foreign-owned companies’ temporary administration

January 6, BPN. Belarusian authorities will appoint administrators for foreign-owned companies for up to 18 months, says a new law signed by Alaksandr Łukašenka on January 3.

The move should prevent the unreasonable termination of operation and protect the staff, says the new law published on the National Legal Internet Portal.

The legislation will remain in force until December 31, 2025 and will not apply to companies that are in the process of liquidation or bankruptcy.

In November 2022, Łukašenka said foreign-owned companies would be nationalized if their owners seek to withdraw from Belarus.