On Some Measures to Stimulate Innovation Activities in the Republic of Belarus
Research organisations and institutions of higher learning have been entitled to set up unitary companies enjoying a number of privileges with the purpose of holding research, experimental and design activities.
Under the Decree, the unitary companies are allowed to independently set prices for the goods they produce, as well as identify the amount and types of materials they purchase. They are also exempt from the obligatory selling of foreign currency, from the duty paid to the national agricultural producers support fund and from customs duties on imported equipment which is intended for research, experimental and design activities.
The new companies have been granted a three-year right to allot up to 2 per cent of the revenues from the sales of science-intensive products to the performers of the scientific research results, and add this allotments to the prime cost of the products.
The implementation of the Decree will help expand the innovation infrastructure, create new jobs, attract investors and become an incentive for intensification of innovation activities at research institutions and institutions of higher learning of Belarus.