09.03.2009 [News]

The Decree “On some measures for stimulating innovation activities in Belarus” is signed by the President

The President of Belarus signed Decree No.123 “On some measures for stimulating innovation activities in Belarus” on 9 March 2009.
http://pravo.by/webnpa/text.asp?RN=p30900123 (full text in Russian).

For the purposes of carrying out research activities and developments, scientific organizations and universities have been given a right to create unitary enterprises possessing some privileges.

The unitary enterprises have the right to establish independently the prices for production they produce, define volumes and kinds of materials they buy. They also are released from obligatory sale of foreign currency (usually, organizations and companies have to sale 30% of the funds they receive in foreign currency according to the exchange rate of the National Bank just upon getting the money), payment in republican fund of support for agricultural production manufacturers and taxation by the import customs duties on the equipment imported for the purposes of R&D activities. Besides, the enterprises created have got the right within the three years from the start of manufacture of high tech production to deduct up to 2% of profits from its realization to the executors of R&D. These deductions have to be referred to production cost price.

Realization of the Decree will assist in expanding the national innovative infrastructure, creating new working places, and also attracting investors. It has to become a stimulus for activating the innovative activities of S&T and educational institutions in Belarus.

Source: Press-service of the President of Belarus (http://president.gov.by).