The National Agency of Investment and Privatization ("NAIP") invites qualified individuals to submit proposals for appointment by the agency as a Resident Advisor (“RA”) for small scale case-by-case privatization in Belarus. 1. Background The government of Belarus has in recent years embarked on a gradual reform process aimed at fostering domestic and foreign private sector initiatives. Within the framework of a broader strategy aimed at attracting foreign investment in support of the economic modernization, a “case-by-case” privatization program is expected to target international strategic investors. The program is supported by a new Privatization Law and the new privatization agency which was established on May 25, 2011 as a subordinated center of the Ministry of Economy of the Republic of Belarus. This new agency also collaborates with the State Property Committee which manages government owned assets. The Ministry of Finance of Austria established a Trust Fund in November 2010 in the amount of US$5 million to support the Belarus privatization program for a duration of up to five years. The project will be executed by the Government of Belarus under the administration and supervision of the World Bank. The objective of this project is to implement a small scale case-by-case privatization program in accordance with international best practices in order to attract strategic investors of either domestic or foreign origin. Ten (10) small and medium sized state owned enterprises (“SOE”s) have been identified to initiate the privatization program and additional ones will be selected once the program has started. The program is designed to ensure that the privatization of the above companies includes the involvement of Financial Advisor(s) (internationally reputable investment banks or advisory firms) to execute the privatization transactions, including all preparatory work, structuring the sale, implementing the actual sale and performing appropriate post-sale activities for the privatization of these SOEs. The Financial Advisors will be hired in a competitive process carried out in line with World Bank procurement guidelines. Given that NAIP is a new agency assigned with the complex task of running a successful privatization program under a new process using Financial Advisors, the role of the RA is critical. The RA will be expected to support the newly established agency in building the institutional competence required to run the organization and advise them on how to successfully work with Financial Advisors. 2. Tasks The main function of the RA will be to support the establishment of NAIP and capacity building of the staff members of the agency. Activities will include: * Intensive and comprehensive staff training through on the job training and workshops on topics including: - Privatization methods and techniques
- Principles of enterprise valuation
- Administering the tender process and investment negotiations.
* Assisting the agency with the engagement of Financial Advisors for the entire privatization process including - Advising the agency during the competitive process for the selection of Financial advisors
- Supporting the selected Financial Advisor(s) efforts to prepare the companies for privatization
- Providing their professional opinion on the recommendations of the Financial Advisors on the privatization methodology
- Reviewing the documents prepared by the Financial Advisor including the Information memorandum and/or prospectus, and
- Representing the agency along with the Financial Advisors during negotiations with Investors and reviewing the sales contracts.
* In collaboration with the NAIP legal department, developing an in-depth understanding of the Belarusian legislative and regulatory environment, updating the agency on new developments and advising the agency on the implications for the privatization process. In addition the RA will assist the agency in proposing modifications to existing legislation that will facilitate the privatization process. * Serving as a liaison between NAIP and the other government bodies involved in privatization including the Ministry of Economy and the State Property Committee and provide advice to these other government bodies as needed. * Supporting NAIP in its collaborations with the World Bank and the donor (the Ministry of Finance of Austria) * Developing and conducting a communications strategy to educate the general public on the benefits of privatization including assisting with the process of selecting a communications expert. * Developing a comprehensive privatization strategy for Belarus once the initial stage of privatization is completed. 3. Qualifications The ideal candidate will have at least 15 years of work experience with an extensive background in administering privatization programs and/or investment transactions. Experience working in CIS and Eastern Europe/Baltic countries on privatization programs is required. Experience working on programs receiving assistance from International Financial Institutions would be an advantage. The candidate should have an educational background in Economics, law, business or related field. Superior written and oral communication skills (including presentation skills) are required for this position. The candidate must have sophisticated diplomacy and negotiating skills and experience in executing transactions flawlessly. Given the focus on capacity building the candidate must also have strong mentoring and coaching skills and the ability to convey ideas with clarity. Fluency in written and spoken English is required. Russian language skills are strongly preferred. 4. Reporting and Counterparts The RA will report to the Director of NAIP and work closely with the Deputy Director responsible for Privatization. The RA will also collaborate with the staff and management of the SOEs and other relevant government bodies. 5. Other Requirements The RA would be expected to be work for an average of 50% of the year; a significant amount of that time must be spent physically in the office of NAIP in Minsk. While the RA is not in Minsk, the RA will be required to be accessible to NAIP staff for consultations. 6. Contract length The initial contract length will be for one (1) year with the possibility of an extension after the completion of the first year for the duration of the project. Qualified candidates should submit their recent CVs to Dr. Dmitry Klevzhits, Director National Agency of Investment and Privatization, Email: kd@economy.gov.by. Deadline for applications is August 26, 2011. Only short listed candidates will be contacted. |
RSS