In the beginning of 1990s, Belarus had more potential than Poland and Baltic states to become a strong prosperous democracy - it was a centre of electronics in USSR, had very good universities with mathematics, physics, electronics, engineering. It had developed textile industry, built heavy carriers, tractors.
Sure, they needed innovations, market thinking, and transparent controlled privatization, but there were hope and enthusiasm in the beginning of 1990s.
My opinion, Russian influence killed it eventually - they helped Lukashenko to stay in power in 1996 and made the country dependent on Russian markets, oil, gas, money - and Lukashenko spent all the money on economically ineffective government projects, lost investors, kept inefficient model. The rigid, indecisive, and toothless politics of the EU toward Lukashenko did not help either. In a short perspective, it may look morally wrong to work and cooperate with “Last Dictatorship”, but politics is a long game of planting seeds and growing influence, small wins, and changing minds - such strategic thinking is unfortunately beyond and above our bureaucrats.
Now the country is basically lost and hopeless. Do not be under the spell of its software industry and some improvements in Minsk - it is a tiny part of the picture.
Young and active leave the country. More than half of people who studies CS, physics, or applied maths from my generation (30-35+) live in Europe, US, Australia. State medicine is poor - medical professionals just run away from the country. Construction workers, trade professionals leave for Russia, Poland, Baltic States. I learnt from my connections there that many bright young people learn German, English, Polish, or Czech to go study after school abroad and then stay there, no plan B to stay in Belarus. They see no future in country.
Recently, it got even worse: first, Belarusian military pushed for stricter draft rules, and, second, Russia has successfully pushed for further integration. It leads to even more migration of the young and educated, plus people living abroad drop their citizenship for a new one - few are excited to find themselves one day a subject of Russian Federation.