News & Analysis

High-Tech Park in Minsk is growing rapidly

Despite difficult financial conditions and increasing competition, the first six months of 2015 brought revenues of $316.7 million for High-Tech Park in Minsk, thus exceeding the figure for the same period of 2014 by 30 per cent.

“The world’s leading analytical agencies are indicating a worldwide decrease in spending on software. Thus, Gartner lowered its forecast for the global IT market and predicted a reduction of enterprise software expenses by 1.2 per cent and IT services expenses by 4.3 per cent. However, HTP growth rate in the first half of 2015 exceeded the forecast significantly, with HTP total production reaching BYR 5.2 trillion,” says Valery Tsepkalo, HTP Director.

Currently, HTP resident-companies provide services for customers from 55 countries and are successful in the North American, European and Asian hi-tech markets. For example, HTP exports to South Korea increased tenfold, and to the USA – 1.4 times. The share of HTP exports to the USA exceeds the same index in all other industries combined.

The share of exports in HTP total production came to 91 per cent. HTP domestic market sales revenue reached BYR 440.2 billion — a 27 per cent growth compared to 2014.

Currently, there are 144 companies registered in the Hi-Tech Park. In the first half of 2015, ten new companies joined the park and four expanded their activities.

Source: NAIP