Business news

MINSK, 4 June (BelTA) – The Supervisory Board of the Hi-Tech Park has decided in favor of registering 56 new resident companies, representatives of the Hi-Tech Park told BelTA.

Over 100 new companies have been registered within less than half a year. It is a historic record, said the source. It is worth noting that conditions for registering a company in the Hi-Tech Park have been greatly simplified. No red-tape practices at all, assured the source.

Helmes Bel Company Director Max Mironchik noted: “The registration procedure has been simplified as much as possible. It is very simple, the recommendations are understandable, the instruction for preparing your company for registration is clear. If you’ve prepared documents the right way, there will be no problems.”

Rozum Robotics Company designs, programs, and makes multifunctional robots. The company’s director Viktor Khamenok said: “Now we can see that the Hi-Tech Park has opened its doors to new companies. We can now spend much less effort on the paperwork. We can focus on doing business and making money instead. We’ve prepared all the registration papers on our own without resorting to services of law firms.”

Cyber Genesis Company Director Kim Samusenko said: “We are glad we’ve joined the park. When we saw cyber sport added to the Digital Economy Development Ordinance, we started working on registration right away. The Hi-Tech Park is a unique phenomenon in Belarus. It gives an edge to Belarusians.”

The Digital Economy Development Ordinance’s incentives for supporting the development of products instead of offering services are being implemented. A quarter of the new resident companies will create their own products for various spheres of economy. The number includes the computer graphics and animation company Digital Light Studio. It is the first Belarusian animation studio to have started working with the world industry leaders such as Disney, Discovery, Sky, and Panda.

Most of the newly registered companies — 34 — have been founded by Belarusian citizens. The other companies show a great geographical diversity: Australia, the USA, Russia, Canada, Lithuania, and Czechia. It is remarkable that Estonia also aims for the Belarusian Hi-Tech Park.

Hi-Tech Park Director Vsevolod Yanchevsky said: “More than 100 companies in five months, more than 100 new residents is very good news and a great accomplishment. The Hi-Tech Park has never seen anything like it yet. Certainly, it is a direct testimony of the great trust in the Digital Economy Development Ordinance on the part of the IT community, not only the Belarusian one but the foreign one, too.”

There are startups among the new residents, too. For instance, Izovac DR Company develops a number of high-tech devices such as augmented reality glasses using the optoelectronic expertise of the Izovac group of companies. Companies from the regions — Vitebsk, Mogilev, Grodno, and Brest — are also moving into the Hi-Tech Park.

The Digital Economy Development Ordinance has also allowed existing resident companies to expand the scope of their business by offering advertising and marketing services and outsourcing for business processes.

The Hi-Tech Park in Minsk is now home to 293 resident companies.