The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Belarus  
Rank: 73 · Score: 47.3  

Basic facts, 2020        
Population (millions) 9.5   IPOs and pulic issues (quartile) 2nd
GDP (US$ billions) 59.5   M&A volume (quartile) 3rd
GDP per capita (US$) 6,290.2   Venture capital investments (quartile) 2nd
GDP growth (per cent) -1.7   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 73 46, 44, 46, 49, 52 47.3
1 Economic Activity 68 44, 40, 54, 59, 57 70.7
2 Depth of Capital Market 75 45, 45, 44, 45, 50 35.3
3 Taxation 70 69, 68, 65, 58, 55 93.4
4 Investor Protection and Corporate Governance 93 11, 10, 24, 32, 32 54.3
5 Human and Social Environment 40 69, 78, 82, 83, 85 36.9
6 Entrepreneurial Opportunities 62 67, 56, 63, 61, 63 49.1


 
Historic performance, 2017-2021   Key driver performance, 2021
 

   
VC/PE Rank  
VC Rank  
PE Rank
Belarus  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Latvia 65.1 33.7 102.8 83.0 36.1 53.9
Serbia 67.2 41.6 78.1 62.1 31.2 55.9
Slovakia 73.7 30.2 97.9 66.4 31.9 56.4
Belarus 70.7 35.3 93.4 54.3 36.9 49.1
Montenegro 42.0 36.1 88.5 76.5 31.1 43.6
Ukraine 75.1 21.7 94.6 57.4 30.7 49.0
Macedonia 50.5 14.2 97.5 65.0 25.2 45.3
Last updated: 21 Jun 2021