Belarus is taking advantage of its highly skilled workforce and location at the heart of Europe to good effect with its unique High Technologies Park.
Belarus’ heritage as the scientific powerhouse of the former Soviet Union lives on in the development of its High Technologies Park (HTP), which provides exceptional opportunities for the development of the IT industry and unprecedented incentives for investors.
Technology companies that become residents of the Park are free from all taxes, including VAT, profit tax, and customs duties. Individual income tax is fixed at 9 % for the employees of resident companies and all these favourable conditions are effective till 2020.
Unlike other parks in Europe and Asia, technology companies are not required to be physically located in the Park. Eligible companies can be located anywhere in Belarus and enjoy the same rights and benefits as physical residents of the HTP. This principle is the driving force behind educational, professional, and scientific development across the whole country.
The first residents were registered in 2006 and by 2009, 72 companies had become Park’ residents. Half of these are foreign companies or joint ventures and many have been attracted by the high level of IT skills in the country and the low cost base.
The Park has experienced significant investment and growth and since its establishment the volume of software production and exports have been growing on average by 200%. During the first three years of operations the export of computer programmes increased almost tenfold.
Exports constitutes 80% of the total production volume of the HTP. The resident companies are successfully delivering specialist services to the important North American and European technology markets. The customers of the Park’s technology businesses include some of the world’s leading consumers of software production such as Peugeot, Mitsubishi, British Petroleum, Gazprom, Reuters, British Telecom, London Stock Exchange, the World Bank and Coca-Cola.. The services of the Park’s residents are in demand in over 40 countries worldwide.