Chinese investors sought for Vitebsk silicon valley

The Vitebsk Oblast administration seeks potential investors for the project to build a silicon valley in the region, representatives of the Economy Committee of the Vitebsk Oblast Executive Committee told BelTA.

The project has been initiated by the Vitebsk Oblast administration and the small business incubator OOO Legal Group Law & Order. The project is part of the regional program for the investment and innovation-driven development of Vitebsk Oblast. The project provides for setting up a park for information and innovative technologies by inviting Belarusian and foreign companies to utilize the available infrastructure, buildings and structures in the free economic zone Vitebsk inside the city limits.

According to the source, they now seek investors. The most acceptable form of cooperation is direct Chinese investments by setting up enterprises with 100% Chinese capital for the sake of fulfilling orders of Belarusian and foreign consumers of IT services.

A step-by-step plan to develop the site was compiled in 2013. The architectural design was completed in April 2015. The preliminary cost of repairing the building and the infrastructure taking into account operation standards of IT companies is estimated at Br110 billion.

As a business center the Vitebsk silicon valley is supposed to include a small business incubator, an innovative center, a technopark, and an industrial zone. The innovative center will be home to IT companies that develop software and other kinds of innovative products. The technopark will house all the manufacturing and science-intensive enterprises that specialize in making industrial prototypes, which are ready for mass production.