Updated at 11:30,08-12-2016

Government to provide $90 million within three years for development of nanotechnology industry in Belarus

As much as $90 million is expected to be provided within three years for the development of the nanotechnology industry in Belarus, First Deputy Economy Minister Anatol Filonaw said Friday, speaking at a founding conference for the National Nanotechnology Industry Association.

Belarus has already devised a concept of the development of the industry, Mr. Filonaw noted, adding that it was currently under consideration by the Council of Ministers.

Under the concept, $30 million would be provided a year in the next three years for the development of the nanotechnology industry’s organizations.

Mr. Filonaw noted that modern equipment would be installed at a number of laboratories at the National Academy of Sciences, four research centers of collective usage would be established and a business incubator would be opened at Belarusian National Technical University’s Palitekhnik Scientific and Technological Park.

Companies engaged in the development of nanotechnologies are expected to be granted various tax concessions and incentives, Mr. Filonaw said.

A web portal offering all necessary information about the development of nanotechnologies in Belarus will be launched as well, he noted.

"All this work should be coordinated," Mr. Filonaw said. "The establishment of the association will contribute to the creation of an innovation cluster of nanotechnologies in Belarus."

Belarus has become the second post-Soviet country after Russia to have a nanotechnology industry association.