Russia's IT exports are predicted to grow by 10%
2020-06-29 07:09

Russia's IT exports are predicted to grow by 10%

Experts of the Russian Export Center (REC) made a forecast for the development of IT-services exports.

As stated by Stanislav Georgievsky, vice-president of the REC, the driver in this direction may be the implementation of measures proposed by the Russian president. According to him, one of the lowest tax rates in the world in the IT-industry will enable exporters to demonstrate significant qualitative and volume changes in exports.

Decrease of income tax rate to 3% and insurance premium rate to 7.6% will stimulate the competitiveness of domestic organizations and make it possible to accelerate the export growth in this sector up to 10%.

Already now, against the backdrop of the pandemic, the export of Russian-made digital technologies is demonstrating stable growth despite the fact that in the world as a whole there is a trend of trade slowdown. Thus, the aggregate dynamics on the export of intellectual technologies and telecommunication products was positive on average for six months of the current year, the growth exceeding 7%.

Due to the fact that companies all over the world were forced to transfer work into a remote format, the demand for remote work services, video communication services and online-education sharply increased.

A comprehensive approach to supporting IT companies will increase the export of domestic software and organize a convenient business environment for companies in the industry, as well as will affect the return of companies from foreign jurisdictions and attract additional investment.

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Author: Ksenia Gustova