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Economy
06 August 2020, 10:03

Plans to promote innovation centers in Belarus

MINSK, 6 August (BelTA) – There are plans to promote innovation centers in Belarus, Deputy Prime Minister Yuri Nazarov told reporters as he visited the Horizont Innovation Center, BelTA has learned.

This center is unique for Belarus. It became a radio-technical cluster that has brought together ideas, businesses and technology in industrial and consumer electronics, avionics and component parts for electric vehicles.

“The center implements ideas that manufacturers need and gets an absolutely new product that boosts the competitiveness of our equipment. BELAZ is a case in point as it broadly uses panels of the Horizont company. I hope that this will not be the only innovation center like this in the country,” Yuri Nazarov said.

According to the deputy prime minister, the center does not receive any financing from the budget. "It relies solely on the company's resources. However, you need to keep in mind that the payback period here may be pretty long and not all solutions can take off,” he said.

The Horizont holding company runs businesses in six areas: R&D, industrial electronics, consumer electronics, lighting, real estate, and the social sector.

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