The Belarusian government is ready to allocate $1 billion for implementing breakthrough innovative projects developed by the National Academy of Sciences of Belarus (NASB), Georgy Grits, Deputy Director for Science of the NASB System Analysis and Strategic Research Centre, told a roundtable session on October 8.

He said, the National Academy of Sciences had been charged with working out such breakthrough technologies. More than ten projects have been developed and will be forwarded for consideration of the government one of these days, said Georgy Grits. All the projects are very attractive for investors and bear low risks. They are mainly designed to start manufacturing import substitutes.

The payback term of these projects is short — 2.5-5.5 years. Georgy Grits mentioned the production of braided surgical sutures, woven and knitted medical fabrics as one of the developed projects. At present Belarus imports tens of millions of dollars worth of these products. The project will use the state budget among other funding sources. Its payback period is 3.5 years.

Production of food additives (the payback term is 2.5 years) and production of photodiode equipment are also breakthrough innovative projects. Georgy Grits remarked the latter is especially attractive. The NASB and Dutch company Phillips have signed a memorandum and the company is ready to invest in the project.

Russian investors also show interest in the projects. In particular, negotiations with Russians are in progress regarding the production of braided surgical sutures. The projects are not part of the 2007-2010 state innovative development programme but may be included into it.

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