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Main / News / Country News
24 January 2020

Belarus’ Institute of Economics services export over $120,000 in 2019

Thanks to the implementation of applied research projects for foreign clients, the export of services by the Institute of Economics of the National Academy of Sciences of Belarus (NASB) exceeded $120,000 in 2019, BelTA learned from director of the institute Valery Belsky who received the Doctor of Economic Sciences diploma from the Belarusian president on 23 January.

“In 2019 the institute carried out about 30 large-scale fundamental and applied research projects. Three of them were implemented at the request of foreign clients, thanks to which our services export came at $122,500,” Valery Belsky said. “For example, we drafted the CIS model law on the contractual system in research and development. The institute also prepared proposals for a conceptual project on main areas of industrial cooperation in the Eurasian Economic Union (EAEU) in the medium term and long term with account of development priorities and prospects of Belarus’ manufacturing sector. The third project provided for developing a methodology to prepare the development forecasts for agribusiness complexes (for five and ten years) of the EAEU member states,” he added.

This year the institute intends to conduct some research aimed at justification of promising areas of Belarus’ social and economic development. The institute will focus on institutional mechanisms for economic growth, a concept of an effective financial policy, a strategy of economic sovereignty and effective foreign trade policy, mechanisms of ensuring susceptibility of the national economy to innovations, promising areas of transforming Belarus’ services sector in view of global trends, and assessment of regulatory impact of legislation on economic activities.

The NASB Institute of Economics will also focus on interaction with government agencies. The institute already actively cooperates with them, which helps achieve important macroeconomic goals. “We are proud that government agencies take into account our evaluation of internal and external economic processes and follow a lot of our recommendations regarding social and economic development of the country. It motivates us to work even harder, and inspires the staff to come up with new practical recommendations on ways to respond to current challenges,” Valery Belsky noted.

Efficient cooperation with government authorities helps tap into the intellectual potential of the academia in order to find solutions to the country’s priority tasks and contributes greatly to scientific and analytical support of activities of government agencies.

Priorities for the year 2020 also include training of academic staff and work with the youth. “Plans are in place to increase the number of doctoral degrees, internships and advanced training courses, including in foreign organizations,” Valery Belsky added. In 2019, four researchers of the institute obtained a doctoral degree, nine more received the associate professor title, and over twenty young researchers of the institute had internships in leading scientific institutions abroad. The role of the youth in economic science is growing, which helps embrace new areas of research in the age of digitalization of economic processes and ensure continuity of generations.