The paper deals with the development of Polish-owned companies on the Belarusian market, identifying their key development strategies. A relatively large number of Polish businesses are active on the Belarusian market, the author says. At the beginning of 2010, a total of 532 Polish-owned companies were registered in Belarus, according to data by Poland’s Ministry of Foreign Affairs. In addition to studying research reports on the topic, the author collected data through telephone interviews as well as a questionnaire, which was the main research method. According to the author, every company, by its very nature, seeks to grow; this trend can also be observed Polish-owned companies doing business in Belarus. The research indicates that product development and, in some cases, market penetration were the most effective development strategies among the surveyed companies, Naumavets says. Doing business abroad requires a company to focus especially strongly on its competitive advantages, because a foreign company is a usually at a disadvantage with regard to the local competition, according to the author. This explains why foreign companies should focus on competitive strategies as proposed by American economist Michael Porter, Naumavets notes. The most common strategy among the surveyed companies was one based on standing out in the marketplace. This strategy makes it possible to achieve and maintain a sustainable competitive advantage, according to the author. Polish-owned companies active in Belarus usually try to stand out in their relations with customers and suppliers as well as in terms of business reputation, quality and price.