TNCs are international firms having branches in two or more countries and managing these branches from one or sev­eral centers on the basis of a decision-making mechanism that allows to coordinate the policies and work out the general strategy, distribute resources, technologies and responsibilities to achieve a desirable result, which is profit earning.

country;

tralization of some of its functions;

and crises;

sources of foreign states (a possibility to take advantage of spe- cial features of different countries’ state policy (in particular, the taxation policy) as well as to take advantages of the differ­ences in the rate of exchange, etc.);

In the Republic of Belarus, the structural basis of the economy is constituted by large enterprises. However, these enterprises, being public monopolists, are still economically, financially and structurally weak in the world markets. Bela-

rusian enterprises that count only on local markets, are running a high risk because they can lag behind current trends of the world economy and lose their strategic character, as a result of which foreign competitors can drive them out not only of all the markets, but even of the local ones. Therefore, it is highly important today to consider the problem of the Belarusian business globalization and to choose the most effective interna­tional strategy as a key to success. In this regard, it is necessary to work out an action plan to be guided by while creating and developing competitive Belarusian transnational corporations.

Economic globalization dictates the need to modernize the managerial system and technologies of our industry so as to establish a network of transnational corporations, the home country of which is to be Belarus. What is needed is to change the focus of the international activity of Belarusian enterprises from exporting goods to foreign manufacturing, which offers a possibility to sell products in foreign markets.

The need for Belarusian transnational corporations is predetermined by the commitment of large domestic enterpris­es to surviving in an international competitive struggle. Do- mestic transnational corporations will also help to overcome numerous trade and political barriers. Besides, domestic trans­national corporations should give new benefits driven by the differences between the economic conditions of Belarus and those of the countries where their subsidiaries will be located. In this case, Belarusian companies can gain extra profit on ac­count of the difference in the levels of natural resources en- dowment and cost as well as in the difference in the levels of the staff competence, wage rates, depreciation policies, taxa­tion levels, currency stability levels, etc.

Belarusian enterprises, especially in technically advanced industries, have to focus on doing business on a global scale, rather than in some particular countries. Belarusian transna­tional corporations will allow competitive and perspective en- terprises to direct their efforts to expand the products export on a permanent and steady basis.

Thus, it is not enough for the enterprise to become a member of a transnational corporation and an active participant of its business so as to feel comfortable under the conditions of the globalizing economy. It is also necessary for the enterprise to try to get into and consolidate its position in those links of the value "chain" in which the economic rent accumulates.

To do it, an enterprise has to be able to provide not only a minimum level of costs, but also high-quality products, as well as to quickly develop and produce qualitatively new types of products and technologies, to regularly improve and to effi- ciently use procedures and methods of the manufacturing pro- cess management. Only dynamically developing enterprises

In general, the purview of the antitrust legislation of the Republic of Belarus focusing on the main types of illegal mo- nopolistic activities features the following things: business ac­tions aiming at competition restriction (or legal interests of other economic subjects), business agreements that restrain competition, governmental acts and agreements restraining competition.

• any activities of major business entities in a goods market if they restrict or can restrict competition or to violate the rights, freedoms and legitimate interests of other business entities or consumers;

• any production or sales monopolization, exercising powers illegal restrict or can restrict competition as well as conglomeration of business entities monopolizing production and sales of goods or other forms of competition restriction.

In order to prevent business entities from taking the lead in a goods market, the Department of Economic Affairs of the Re- public of Belarus exercises control over equity transactions, asset contributions of the authorized funds of these business entities.