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Partnership of state, private sector in innovations expected to spur Belarus’ development

19.11.2019

Partnership of the state and the private sector in the sphere of innovations is a necessary condition for the dynamic development of the country. Prime Minister of Belarus Sergei Rumas made the statement during the opening ceremony of the Global Entrepreneurship Week (GEW) on 18 November, BelTA has learned.

The head of government noted that innovations are the main theme of the forum this year. “The dynamic development of our country needs an effective partnership of the state and the private sector in this sphere,” he believes.

“Along with other countries Belarus is entering the postindustrial information age. Today goods and services offered by science-intensive enterprises, cutting-edge equipment and technologies can be found in all aspects of people’s lives. Digitization has become the fact to determine the competitive ability virtually in all sectors of the economy and in the sphere of state administration,” the prime minister noted.

Sergei Rumas added that Belarus has secured certain accomplishments in this regard: the country is in the world’s top 10 in such indicators as the global innovation index, the development of mobile apps, inventions and utility models, higher education. Belarus is in the world’s top 20 in the export of IT services.

“The Hi-Tech Park represents a successful example of interaction between the state and the private sector,” Sergei Rumas noted. “In the last two years the park’s contribution to the gross domestic product, to export has virtually doubled.”

According to the Prime Minister, the government does a lot to advance partnership relations with the private sector. “We’ve reached new heights in public discussions about regulatory initiatives of government agencies. The development of the bill on self-regulated organizations has begun,” the head of government noted. “This project will continue the policy of dismantling excessive administrative barriers standing in the way of doing business.”

A lot of attention is paid to the improvement of financial support for entrepreneurship in Belarus. The government in association with banks is considering steps to facilitate access to financial resources. The lineup of products the banking system offers for starting a business and developing one is being expanded. A presidential decree to grant subsidies for participation in foreign expos as a means to boost export was signed the other day.

The government also encourages the development of innovative activities. The budget’s spending on it will be raised by 16% in 2020.

“We are doing our best to let the private sector feel that its bold and innovative decisions enjoy state support,” Sergei Rumas stressed.

The main events of the Global Entrepreneurship Week include the 9th international entrepreneurship forum scheduled to take place in Minsk on 19 November and the first regional entrepreneurship forum scheduled to take place in Brest on 21 November. The conferences FinTech Day and Investor’s Factory will take place as well as a competition of startups Belbiz Battle. The best mentor of the year 2019 will be awarded. The country’s best entrepreneurs of the year will be traditionally awarded as part of the Global Entrepreneurship Week.

The Global Entrepreneurship Week (GEW) is a worldwide initiative that takes place in 170 countries at the same time in order to promote entrepreneurship, encourage business cooperation, and find new ideas. The business communication center Belbiz is the GEW’s official representative in Belarus. Partners of the Global Entrepreneurship Week in Belarus include the United States Agency for International Development (USAID), the Development Bank of the Republic of Belarus, the Economy Ministry, the International Finance Corporation (IFC), the UK embassy in Belarus, Belagroprombank, BelVEB Bank, and the UNDP’s project for developing local initiatives.

The Global Entrepreneurship Week will run through 24 November.

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