The procedure of entering into, and performance of, any concession agreements is regulated by the Investment Code of the Republic of Belarus , the provisions of any concession agreements, other legislative acts of the Republic of Belarus, and by the international treaties to which the Republic of Belarus is a party.

According to the above normative legal acts, any investment activities carried out by any national or foreign investors in respect of bowels of the earth, waters, forests, lands, and any objects being the governmental ownership, as well as any activities to which the exclusive right of the State applies, may be carried out in the Republic of Belarus on the basis of a concession agreement signed between the investor and the government of the Republic of Belarus.

It is an ndispensable condition that any concession agreement shall include the following information:

• the life of the agreement;
• kinds of activities carried out in accordance with such agreement, or description of the property being the object of such concession;
• the rights of the parties to make decisions related to execution of the agreement;
• obligation of a concession body to the concessionaire concerning issue of any permissive documents required for carrying out any activity provided for by such agreement;
• the right of property to any manufactured products and derived profits (income) in compliance with the Code requirements;
• the territory of the Republic of Belarus or any part thereof within which the concessionaire is entitled (in particular, on the exclusive basis) to carry out certain kinds of activities (should the right to carry out certain kinds of activities be the object of such concession), and the program and schedule of any work executed under such agreement;
• obligation of the concessionaire to comply with the labour legislation of the Republic of Belarus and safety measures;
• obligation of the concessionaire to comply with the legislation of the Republic of Belarus in the field of environment protection and natural resource conservation;
• the procedure of control of activities of the concessionaire;
• responsibility of the parties to such concession agreement;
• the procedure of, and the body for, settlement of any disputes (including arbitration for any foreign investor) arising from such concession agreement.

The investment agreement with a foreign investor may provide for waiver by the Government from jurisdictional immunity or immunity from interim remedy of any claim and execution of any court and/or arbitral award.

The terms of such investment agreements remain in force within the life of such agreements. The terms of such concession agreements may be only changed upon mutual consent of the parties.

The concession agreement may be entered into for the period of up to 99 years.