It sector
The Belarusian IT sector is competitive ___ the global market, ___ some 500 active IT companies. ___ 200 of these fall ___ the IT outsourcing industry. Their overall number ___ permanent employees varies around 7,000-10,000 individuals. ___ 2007, exports of software developed ___ Belarusian IT companies totaled some US$ 250 million.
The roots of Belarus IT strength derive mainly ___ its mature technical infrastructure, which started to develop during the Soviet era, when Belarus used to manufacture___ 50 % of the computers and computer components in the former USSR. Geographical and cultural proximity ___ the EU is also important.
Among the key advantages of Belarus is the excellent education system inherited ___ Soviet times, when a strong focus was consistently made ___ natural sciences and applied research. Many programmers___ Belarus participated in scientific R&D projects ___ the military, energy, and other industries of the former Soviet Union. Belarus is among the few countries in the world whose specialists have been involved in construction ___ space stations, global communication systems, and nuclear development projects.
4. Insert an appropriate modal verb.
may (2), should (2), must (2), cannot, can
1. The Belarusian construction materials sector ___ benefit from the construction boom.
2. The two companies ___ be transformed into a single corporate entity because they operate in the same processing chain.
3. This means local authorities ___ have had all the documents approved and are now ready to draw up the lists of the companies.
4. Under the Investment Code, compensation of the value of nationalized or requisitioned property ___ be equal to the market value of the property determined under the procedure established by the President.
5. The rate of profit tax comprises 50% of the commonly applicable rate (currently 24%) and in any event ___ exceed 12%.
6. If deciding to run a business in Belarus via a representative office, one ___ take into account that any activity is always conducted by the office on behalf of the foreign company.
7. A foreign citizen ___ be appointed a Director/ member of the Board of Directors in any LLC.
8. National taxes and duties are established by law and ___ be paid through Belarus.
Open the brackets and use the verbs in proper passive form.
Within the past few years, several large-scale projects (announce) in Belarus. However, no modern logistics complexes (build).
Aggregate investments in the project (plan) at US$ 140 million.
In 2007, the largest transaction (complete) in the Belarusian Telecommunications sector.
70% of GDP still (produce) by state-controlled enterprises.
International appraisers, especially the Dutch ABL AMRO, (engage) to evaluate NAFTA and Polymer soon.
In early 2008 the first list of objects offered for concession (approve) by the Belarusian Government.
A CJSC (not allow) to offer its stock for public subscription.
The rate of profit tax comprises 5%, unless more favourable conditions (set) by international agreements.
FOCUS ON FUNCTIONS
Describing economic changes
1. Study the figures in the table below. Speak about the changes in key economic indicators over the 2001-2008 period using the following phrases:
Going up |
Going down |
No change
|
to increase by …% to rise from … to … to improve rapidly to grow substantially to go up step by step to take off to shoot up |
to fall steadily to drop slowly to decline gradually to go down slightly to fall off dramatically to decrease to lessen |
to remain stable, to level off, to stay at the same level to continue to be to go on as |
SPEAKING
1. Give your opinion concerning the following challenges to the Belarusian economy:
- The major threat to the stability of the Belarusian economy in the short-term and medium-term perspective is a price hike of energy resources supplied by the Russian Federation. Preferential terms and conditions of supplies and the existence of a formal trade union agreement between two countries were the key drivers of recent favourable Belarusian economic growth.
- One of the key problems of the Belarusian economy is a high intensity of power consumption. Growing costs of output produced by Belarusian enterprises amplify problems they face on the Russian market. The growth of the Russian economy and the consequent household income growth in Russia both lead to a changing character of competition on this market. Belarusian goods occupy a specific niche 'for the poor' of the Russian market.
- Between 2007 and 1H2008, Belarus took a significant step forward in liberalizing the economy and improving the investment climate. Increasing FDI attractiveness was set as a priority by the President. Several important presidential decrees and government resolutions have been adopted concerning improvement of the investment and business climate. These include abolition of the "golden share" right; gradual abolition of the ban imposed on trading securities acquired during preferential privatization; announcement of the first list of enterprises to be privatized.
2. Comment on the following quotations from the speeches of the President of the Republic of Belarus. Support your comments with facts and arguments.
1. “The use of the latest technologies, priority development of science-intensive branches, import-substituting and export-oriented productions are the main avenues Belarus will move along” (March 3, 2006)
2. “Belarus has been growing much faster in resent years comparing to the CIS and EU countries. However, it is only innovation in all spheres that can ensure further progress. Facilitating innovation, upgrading production and improving labor efficiency are the main targets for the future ” (May 23, 2006 ).
3. “It is in small towns and villages that we see enormous unexploited potential for the development of the country” (November 23, 2006).
4. “In terms of universal cooperation Belarus is very promising a country. We have no foreign debts, we have low inflation, we have- this is very important- diligent people; the economy functions intensively; we manufacture competitive goods. We are always able to earn money for the budget ” (January 22, 2007).
5. “Today it is the West, the EU that occupy the first place in trade and economic cooperation with Belarus, then goes Russia. We have deliberately sought not to be dependent on one country and we have been honest about it when diversifying our foreign policy and economy” (April 24, 2007).
6. “It is only by joint efforts and discipline that the Belarusian people can ensure economic security of the state, progress and prosperity of our independent Belarus” (June 14, 2007).
7. “The world financial and economic crisis teaches us to act quickly. It is important that having assumed such a great responsibility we should not slow down the process of economic integration but should demonstrate cohesive and well coordinated work ”(November 27, 2009).
3. Render the main idea of the following text in English.