We Did It! PSA Development Center Joined Belarus High-Tech Park
Elena Sankina, Director of PSA Development Center, is receiving HTP residence certificate

We Did It! PSA Development Center Joined Belarus High-Tech Park

I am thrilled to announce PSA Development Center is now a resident of Belarus High-Tech Park (HTP)! The decision was made by the Supervisory Board of HTP during their meeting on November 17, 2017. 

High-Tech Park is the Belarusian “Silicon Valley”.  It is an economic zone that provides an advantageous business environment for specially selected high technology companies to promote their growth and boost the Information and Communication Technology (ICT) sector.  The companies registered in HTP enjoy government support and tax benefits: they are exempted from most taxes, including Value-Added Tax and income tax.  Additionally, employees of companies within HTP enjoy a reduction in personal income tax compared with other sectors of the economy.

The road to HTP was not easy: PSA Development Center made a commitment to promote economic development in the IT industry in Belarus and presented a three year business plan for growth.  A thorough business plan is a crucial factor in the decision making process for an organization being selected for inclusion into HTP, and the plan from PSA was no exception and involved substantial preparation.  It took several months, from when PSA submitted a business plan, to the day we received the good news.  I am thankful to everyone within PSA that was involved. All of those sleepless nights, hard work, and dedication have paid off!

A handful of companies from over one thousand registered IT companies in Belarus have been granted HTP admission, this speaks of the seriousness and selectivity with which the HTP considers its residents.

Through HTP, Belarus continues to build a mature, export-oriented software development industry and has become a significant player in the IT services market within the US and Europe over the past 10 years.  According to Gartner, Belarus is among the nine most attractive locations for Outsourcing, Shared Service, and Captives in the Europe, Middle East, and Africa regions.  Today, Belarus Hi-Tech Park is a major IT cluster with over 30,000 software engineers employed.

Our participation in HTP allows PSA to continue to attract the most qualified professionals and specialists and continue to deliver the highest quality services to our clients.  In the near term, PSA Development Center is expecting to see continued growth in the number of professionals employed and clients we serve.


References:

Ernst & Young Report “The IT Industry in Belarus: 2017 and Beyond” http://www.ey.com/Publication/vwLUAssets/ey-it-industry-in-belarus-2017-and-beyond/$FILE/ey-it-industry-in-belarus-2017-and-beyond.pdf


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