In an interview with the news agency BNS, Lithuanian businessman Mindaugas Marcinkevičius has called his decision to develop the retail chain Mart Inn in Belarus a mistake.
The investor notes that “it’s very difficult to work in modern conditions in Belarus.” According to him, he’d considered selling the business, but the liquidity of its assets is now “close to zero.”
“I think the decision to invest in Belarus was wrong. This country is fundamentally different from Lithuania in terms of the business environment, and the conditions for investment there are extremely unfavorable,” said Mindaugas Marcinkevičius.
The first Mart Inn store opened in Belarus in 2012. Now it has 36 stores in 16 cities of the country.