Export of Belarus Hi-Tech Park exceeds $1 billion

Export of Belarus Hi-Tech Park exceeds $1 billion

Photo: Hi-Tech Park

The export of resident companies of the Belarusian "silicon valley" - the High Technology Park - exceeded $1 billion in 2017, the HTP said on Thursday.

The Belarusian High Technology Park has existed since 2005. Today, many world IT giants are registered there, including Rakuten Viber and EPAM. From year to year, the export of HTP resident companies is growing, and 2017 is not an exception.

In 2017, the export of residents of the High Technology Park exceeded a billion dollars - during one year it grew by a quarter.

This is the first time this mark has been exceeded. In 2016 the figure was $820 million.

Then the Park changed its the head - Valery Tsepkalo was replaced by Vsevolod Yanchevsky, and the HTP continued its development.

Growth is observed also in production volume - by 20% compared to 2016.

At the end of 2017, President of Belarus Alexander Lukashenko signed the decree "On the development of digital economy" (aka "Hi-Tech Park Decee 2.0"), thanks to which Belarus is creating unique conditions for IT companies and the development of digital businesses.

MORE: Full analysis of the decree and its benefits for investors

The decree, among other things, introduces certain privileges for HTP residents, allows them to apply the rules of English Law, introduces a lot of adjustments in the activities of IT companies.

In general, IT businessmen received the decree positively since it will help to develop this branch in the country and, probably, will allow Belarus to become a "European Singapore".

SEE: What Belarus' companies think about Hi-Tech Park Decee 2.0