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Tuesday, March 31, 2020

UNITER exec: IT production in Belarus expected to exceed $1 billion

Yevgeny Radionik, an executive at investment firm UNITER, said this week at the 11th International forum on banking technologies, or BankIT, that output from information technology services in Belarus is expected to rise above the $1 billion mark.

The nation's information technology (IT) industry is expected to continue growing in the future. By 2018, it is expected to reach $2 billion in production.

“The key trends will be the transition of some companies to the business-to-consumer model (B2C) and the reduction in profitability of companies using the business-to-business model (B2B),” Radionik, who heads up the external communications department at UNITER, said.

He also noted that the outsourcing model of business is slowing and will continue to do so. In the past five years, outsourcing of IT services has dropped by up to 75 percent at some companies.

According to the Belarus press service, the success of IT growth will depend largely on venture capital foundations and partnership projects in digital health care and logistics. These partner projects provide banks with an excellent opportunity to invest in IT companies and grow with them.

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Government of Belarus

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