Opinions & Interviews

MOGILEV, 11 October (BelTA) – Switching the economy of Belarus and Russia to digital rails is not just a fashionable trend, it is a matter of economic security. The statement was made by Chairman of the Economy, Budget, and Finance Commission of the Council of the Republic of the National Assembly of Belarus Vladimir Pantyukhov during the panel session on digital economy and cooperation of regions held as part of the Forum of Regions of Belarus and Russia in Mogilev on 11 October, BelTA has learned.

According to the senator, the output capacity of equipment has increased considerably lately, quantity has a quality of its own, the phenomenon of digital economy has been born as a result. It is now possible to develop new digital products, processes, and business models. Startups of the past are now major Internet companies and online platforms (Facebook, Airbnb, Amazon, and other ones). Investments in such companies exceed the investments poured in top long-established industrial companies.

The senator is in favor of switching the economy in Belarus and Russia to digital rails. “We should not stay away from these processes lest we become dependent on global leaders in digitizing the economy. We should be proactive,” said Vladimir Pantyukhov.

During the plenary session of the previous Forum of Regions of Belarus and Russia in Moscow the Belarusian head of state underlined that his country had set an ambitious goal – to become an IT country. The past 12 months saw a breakthrough. The Digital Economy Development Ordinance works very effectively. In January-September 2018 the Hi-Tech Park welcomed about 200 new resident companies, more than the number of companies registered in the 12 years since the park was established. In H1 2018 the Hi-Tech Park reported record high export growth – 40% up without taking into account the new companies.

On the whole, if the national models for developing the digital economy in Belarus and Russia are compared, one can see they have a lot in common: close attention the heads of state pay to the matter, the adoption of special medium-term programs, the formation of competence centers, solid support for digital business, and so on, noted Vladimir Pantyukhov. “This is why we have something to discuss and determine topical matters regarding future cooperation in digitizing the economy,” he stated.