e-belarus.org logo

Order E-Belarus News:

Search E-Belarus.ORG:

Belarus Tries To Milk its Technology "Oligarchs"?


According to BelarusDigest on 3 April the Belarusian police arrested Viktar Prakapenia, a major IT businessman and owner of the EXP(Capital) investment fund. The authorities charged him with running a business in the shadows in 2005-2008 and allegedly earning $650,000 in illegal profits.

The IT outsourcing sector has been growing fast in Belarus since 2005, when the first government established the High Technology Park and granted it unique tax privileges. However, this highly sensitive and mobile business may choose to move elsewhere thanks to the authorities' awkward dealing with IT leaders. The image damage done by simply putting Prakapenia in jail could have serious consequences for the IT industry as a whole and the investment climate of Belarus.

Read more:


Bookmark and Share

This information may be reproduced provided that E-Belarus.org is given as the source.

E-Belarus.ORG, 2001-2015