Page 11 - bne_Tech_06_2018

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June 2018 www.intellinews.com I Page 11
Over 100 new companies enter Belarus hi-tech park in 2018
Over 100 new companies have been registered in Belarus’ Hi-Tech Park, which is a historic record, BELTA news agency reported on June 4.
In December, Belarusian President Alexander Lukashenko signed a decree that set up the regulatory and legislative basis of transactions in crypto-currencies, making Belarus one of the first CIS countries to formally embrace the idea. The document is designed to attract digital coin entrepreneurs, who are moving businesses to locations more welcoming to crypto-currencies.
The decree legalises initial coin offerings and transactions in crypto-currencies, including their exchange for traditional currencies on Belarusian
Saudis to invest in Russian logistics runner-up PLT
Saudi Arabian Public Investment Fund (SAPIF) will invest $100mn into the construction of Moscow techno-park Tushino, as well in the Professional Logistics Technologies (PLT) platform, which is Russia's fifth largest logistics operator, the state controlled investment vehicle, the Russian Direct Investment Fund (RDIF) announced.
exchanges, while all trades will be tax-free for the next five years. It also allows local IT companies to operate in part under English law - a boon to potential foreign investors, who can struggle to navigate the Belarusian legal system, according to Reuters.
At the same time, Minsk-based independent experts point that the decree and other liberal steps of the Belarusian government fail to secure any significant benefits the nation's economy due to remaining tough capital controls and other Soviet-style restrictions.
The Hi-Tech Park in Minsk is now home to 293 resident companies.
The Tushino investment will be carried out within a consortium formed by RDIF and the Russian- Chinese Investment Fund, with total project cost estimated at RUB90bn ($1.5bn).
PLT was created by RDIF in 2016 jointly with Mubadala Development Company and other Middle Eastern funds, with SAPIF becoming