StrategEast releases report on IT industry in Eurasian countries

StrategEast has published the second edition of a report entitled Changing Economy, Changing Society which studies trends and prospects for the development of the IT industry in Eurasian and Baltic countries, as well as the degree of influence of this industry on the transformation of Eurasian society into a modern Western-type society. The report was prepared in cooperation with AXIOS Holding.

The first edition of the report was published in 2018. Since then the IT industry in Eurasian and Baltic countries took several steps forward. The governments of most Eurasian countries have successfully improved the legislation, tax system, and increased the investment attractiveness of the industry. In turn, the IT companies responded with a significant increase in production, exports, and the creation of hundreds of thousands of new jobs.

The study includes the following main findings:

• In recent years, one of the most advanced legislative frameworks in the region encouraging the development of the IT industry was created in Belarus. Adoption of this legislation contributed to the rapid growth of Belarusian IT, its share in the country’s exports, and the number of employees in this sphere;
• Despite the fact that most of the Eurasian countries do not have such advanced legislation in the IT sphere as Belarus, some of them, such as the Baltic countries, Ukraine and Moldova, have made significant progress in the development of the IT industry. Exports of products in this industry have outstripped exports of many traditional industries for these countries;
• In all Eurasian countries, the local authorities attempt to develop the IT sphere and create special zones for high-tech parks, which have developed with varying degrees of success;
• The development of IT technologies in the Eurasian countries contributes significantly to the development of civil society, a responsible middle class, and the improvement of legislation in other areas.

Support from leaders of Western IT industry and Western governments could contribute to the future success and intensive development of the IT industry in Eurasian countries and subsequent development of a new generation of socially active and responsible citizens oriented towards Western values and capable of leading the country along the path of Westernization. StrategEast presents this paper as one step towards encouraging such vital support.

The 2nd edition of Changing Economy. Changing Society report is available here