Decree No.8 "On the development of the digital economy" comes into force

28 March 2018

Belarus on road to become IT country. Today, Decree No.8 "On the development of the digital economy" comes into force. The document means another 30 years of tax benefits, the regulation for the blockchain technology and cryptocurrency, as well as some new activities.

The effect of the document was noticeable even before its entry into force. Most recently, the number of residents of the Hi-Tech Park in Minsk increased by a quarter, while the exports of HTP for the first time in history exceeded 1 bn dollars.

A year ago, the President took the decision to turn Belarus into an IT country. Vsevolod Yanchevsky was appointed the Hi-Tech Park's director. In late 2017, the President signed a revolutionary document. Today, new professions are emerging – specialists who make unmanned vehicles and create artificial intelligence. The decree approximates Belarus’ legislation to the norms of English law. Foreign workers of the HTP are granted a visa-free entrance and stay. It is planned that many innovations will affect other spheres of the economy as well.

The list of activities for the residents of the HTP has been significantly expanded. This list remains open for amendments, and the supervisory board of the Park has the right to include other types of activities in it, too.