EY Experts Review Belarus IT Industry Development

EY (Ernst & Young) published a 120-page report on the Belarus' IT industry and its potential – The IT Industry in Belarus: 2017 and Beyond.

This is the first open report of such a scale to feature detailed statistical and analytical information on the country's IT industry, including IT companies, the education system, the labor market, and the business environment. The report also contains information on Belarus-based R&D centers of international companies, significant events and transactions, and Belarus' position in international IT rankings.

When preparing the report, the EY experts analyzed the available statistics, conducted numerous interviews with top managers of IT companies and industry experts, and surveyed Belarusian IT companies to identify peculiarities of their activity, as well as factors driving their development.

"Today, both the Hi-Tech Park and the whole country are shifting to the new stage of the information technology development. One of the most crucial things now is to attract the world's largest corporations, technology leaders to Belarus. The world knows our country but not well enough, we believe. So the key task is to promote the Belarus' IT industry and demonstrate the potential of Belarusian software engineers and the country's investment opportunities in the sphere of information technology," commented Alexander Martinkevich, HTP Deputy Director.

According to the EY experts, investors and companies looking for technology partners should pay close attention to the Belarus' IT industry.

"The global technology community has its eye on the fast growing Belarusian technology talent and intellectual capital. The name of the Hi-Tech Park is now known globally, and more and more multinationals open R&D centers here. With its friendly and supporting physical and legislation infrastructure, the HTP plays a key role in promoting technology innovation in Belarus which is key in the future growth of the country as it reduces the dependency on natural resources and builds a competitive edge in a global market," noted Noam Canetti, Senior Partner at EY Israel, FAAS Leader.

The report is available on the EY website.

EY (Ernst & Young) is one of the largest professional services firms in the world (one of the "Big Four" accounting firms) headquartered in London. EY has operated in Belarus since 1994.