Business news

MINSK, 23 November (BelTA) – Prime Minister of Belarus Andrei Kobyakov and representatives of OAO Hi-Tech Park Administration have discussed development prospects of the park, BelTA has learned.

Andrei Kobyakov visited construction sites in the Hi-Tech Park and was made familiar with the territory’s development prospects. The Belarusian head of government instructed the Hi-Tech Park administration to put together a comprehensive plan for developing the park taking into account housing programs of the resident companies.

Valery Tsepkalo, Director of the state institution Administration of the Hi-Tech Park, said that at present in the park there are about 150 companies that employ over 22,000 people.

The executive stated that in 2015 the output of the Hi-Tech Park is expected to be close to $800 million. Next year’s is expected to reach $1 billion. According to the source, export share is as high as 90%, with the export growth rate at roughly 140-150% per annum. “I think this year we will see a good growth rate, too. As far as the geography is concerned, North America accounts for 40%, Europe for 43%. This year the share of the CIS states will be much smaller than last year,” said the Director of the Hi-Tech Park administration.

At present the Hi-Tech Park has customers in 55 countries across the globe. In H1 2015 the Hi-Tech Park’s net forex earnings reached $315 million, with import as small as $1.7 million. According to the National Bank of the Republic of Belarus, the earnings represent 26% of the surplus of the foreign trade in services in the national balance of payments.