What to expect from Digital Economy Development Decree in Belarus?

What to expect from Digital Economy Development Decree in Belarus?

On March 28, the decree On Development of Digital Economy came into force in Belarus. One of the key moments is the extension until 2049 of a special legal regime for the High Technology Park. Its residents can engage in entirely new directions, such as artificial intelligence, space technology, augmented reality and unmanned vehicles.

The colorful world on the right is how neural networks see the road, everything on it and around. The program developed here is an integral component for unmanned driving. The project from Belarus is only four months old, and the American investor has already allocated it $164 million.

The finished product should appear within six months. Today, in order to keep up with the times, we must always run. Belarusian IT legislation is also ahead. If earlier a successful start-up was almost doomed to keep the path to the West, where the conditions for development are comfortable, now the presidential decree on digital economy already surpasses them.

Drones, artificial intelligence and crypto-currencies - all this has its place in the document, but it's particular, the main thing is not that. A real race for the future unfolded in the world. Anyone who adapts to a rapidly changing economy will be on the crest of a wave of a new digital reality. The document has simplified everything: low taxes, legalization of international payment systems, global rules of the game on the IT field.

Oleg Kondratenko, head of an IT company:
This is what will lead to an effect of synergy that none of us expect. When they did the Hi-Tech Park, no one expected that it would be $1 billion. I think no one knows now what would happen. This is a change in the basis itself. If the basis exceeds the higher level, then the whole country goes to a higher level. A factory employee may think: "It will not give me anything." In fact, some time will pass and this change in the basis will increase the level life in the entire country.

A small room, with a dozen employees, computers. In such a seemingly unsightly atmosphere, a technological future is born. The average salary of the HTP residents is about $2,000. One programmer brings the same profit as 50 employees of city enterprises. This means taxes to the budget.

Without the High-Tech Park these guys would emigrate to the West. The creation of the Belarusian "silicone valley" stopped this process. Sergei Lavrinenko is one of the creators of the first Belarusian crypto currency. Sergei is already teaching digital economy and a blockchain.

Sergey Lavrinenko, IT Manager:
I see interest in youth. Young people come alive when they know they can make money on it. A real market today amounts to hundreds of billions of dollars, it is growing. Everyone can find a place here if they want.

In Belarus, there is a real boom of IT start-ups. In the beginning of the 2000s Belarus was an outsider in the export of highly technological services. After the creation of the HTP, their volume increased by tens of times. A billion people in 150 countries use the apps developed in Belarus.

Yevgeny Gorin, CTV:
High-tech today, combined with successful startups means high incomes.One can invest in a project $1 million and earn 100 times more.

In the eastern European region, Belarus has firmly established the reputation of one of the leading countries in providing high-tech services. But now, when conditions for its transformation into an IT country have been created, a lot of foreign companies will be able to enter the HTP. This means not just tens of thousands of new jobs with a decent salary. This is absolutely different incomes for the country.

Successful IT projects coming from Belarus like MSQRD or World of Tanks - this is the high-value-added product Belarus strives for. Before, they only increased the image of the state, leaving the lion's share of profits abroad. Now the situation is radically different.