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Global City Competitiveness Report 2009



Global City Competitiveness Report 2009

"... Minsk, besides being the capital of Belarus, is also the major educational and industrial hub of the country. Minsk is one of the largest programming centers comparable to Moscow. The unique combination of a strong industrial base, good educational system, and the widely acknowledged scientific potential makes Minsk well suited for high-tech services. The city is trying to become the Bangalore of the European region.

The local government has undertaken various effective initiatives to promote the IT sector in the city through the provision of several incentives. The Belarus High Tech Park Decree stipulates that any entity operating in a park is exempt from all corporate taxes, 9 percent tax on income received by individuals from park residents and excluded from the aggregate annual income of the individual. Other benefits include VAT and custom duties exemption on certain goods, 5 percent income tax rate for foreign legal entities (with no permanent establishment for business operations in the territory of Belarus) on dividends, interest, royalties if not super ceded by an international tax treaty and no offshore fee for repatriation of dividends to the parent company.

An interesting point to note at present is that, the concept of the High Technologies Park is based on ex-territorial principle. This means that no physical location of the company-resident on the premises of the Park is required; any company no matter where it is situated within Belarus can be registered under the High Technologies Park. Due to this principle, the entire geographical, industrial, social, and educational potential of the country can be deployed.

Due to the unique combination of convenient geographic location, a strong industrial base, and the widely acknowledged scientific potential, Minsk is perfectly suited for providing high technology services such as systems integration, embedded software development, web development, and application development services ..."

Neo Advisory (Formerly neoIT) 
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Interview

Karim Masimo

Karim Masimov

Prime Minister of the Republic of Kazakhstan

ФI think that the level of high technologies development in Belarus is quite high. There is a lot to be learned from youУ.

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Press

"Hi-Tech Park in Belarus is a growing hub for both regional and international software"

fDi Intelligence

Quick Facts

91.5% of the software produced in the Park account for exports. 46.7% account for the European countries, 40.2% Ц for the USA and Canada, 10.7% Ц for Russia and CIS countries.

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