What Belarus' companies think about Hi-Tech Park Decree 2.0

What Belarus' companies think about Hi-Tech Park Decree 2.0

Photo: park.by

The Decree on the development of digital economy has provided new opportunities for doing business in Belarus. Among other things, legal transactions with crypto-currencies have been legalized, conditions for relocation of foreign specialists have been simplified, and a list of relevant spheres of activity for joining the Hi-Tech Park (HTP) has been expanded. What else will the Decree do for business? The website probusiness.io asked founders and CEO of IT companies what they think is most important and how they are going to act thanks to the new document.

Full decree analysis: What benefits it gives HTP companies

Sergey Divin, co-founder of the Computer Academy STEP

First of all, we will study how to support the new types of activities specified in the Decree in terms of educational programs. In 2018 we will launch new or updated programs. We will also consider the possibility of joining HTP, but for this we must first understand the economic feasibility and learn the main approaches of the HTP to "educational" residents.

Viktor Prokopenya, Founder of VP Capital

- The most important engine of the IT industry is education. The new Decree, among other things, allows the creation of educational organizations in Belarus' HTP and helps existing institutions. These two points for me are the most significant in the public sense. We will look for ways to maximize the benefits of society.

MORE: Prokopenya on Bitcoin and Belarus' IT sector

Mikhail Dubakov, Founder and CEO of TargetProcess

- Personally, for our company it will now be easier to structure activities within the framework of HTP. Earlier it was impossible to keep marketers, customer support, sales service and so on in the staff of a Belarusian company. In fact, we could have only programmers, testers and designers. Now this frankly idiotic restriction was removed, expanding the list of specialists who may be among the staff.

The ability to issue options for employees can also be useful.

In other respects, the main thing for existing companies is the extension of the HTP regime until 2049.

Obviously, most innovations will be useful to new companies. For example, opening a new product company in Belarus is very convenient now and there is no point in bothering with foreign jurisdictions.

SEE: What benefits do Belarus' Hi-Tech Park residents get from 2018?

Vladimir Sirotko, General Director of SoftClub

- I would single out a few points in the Decree that will be useful to our company:

1. The ability to open accounts with foreign banks without the permission of Belarus' National Bank.

2. Notification procedure for currency transactions related to the movement of capital and carried out on the basis of a permission of the National Bank. Both the company and its employees carry out such operations. I think that it will be convenient for business not to wait for the regulator's permission, but simply to perform the operation and notify the National Bank about this. This greatly speeds up business processes.

3. The idea of ​​applying English law to HTP residents is also attractive. Non-compete agreements are interesting, but it seems to me that there is a certain conflict and a contradiction with the existing legislation when applying this practice to Belarusian workers. But when it comes to foreign employees, such procedures work well.

4. In addition, for residents of HTP, the declarative principle of attracting foreign specialists will be very useful - now there is no need to waste time for obtaining permits for their admission.

5. It is important that the HTP expands its activities. The life cycle of any software product includes many stages - from the idea and design to implementation and maintenance.

In the new edition of the Hi-Tech Park decree (aka Decree on Digital Economy), it becomes possible to attract other companies for subcontracting, which allows increasing the range of services that HTP residents can offer. The new decree turns to the companies developing their own products. Our company is one of the few that worked as a product company before this decree and in the future we plan to position ourselves in the same vein.

Oleg Kondrashov, founder and manager of the engineering catalyst EnCata

- First of all, the Decree will give a good opportunity to bring foreign personnel, to finally purchase advertising according to sensible rules and communicate with partners in English law. And personally to us this is an opportunity to build a system of grant financing on the basis of blockchain. This is a system of autonomous control over the allocated funds with an increase in the return on the money invested.

Source: probusiness.io