This work presents a case study of the development of industry-oriented, student-centred master-level education in the field of physical sciences in Belarus. It is important to facilitate the Bologna process in the Belarusian higher educational system facing a transition from a “5+1” system (former Soviet system) to the Bologna “4+2” system. The project also faces the labour market needs in the field of a number of physics specialities taking the upcoming changes into account. The approaches developed and applied in this project facilitated a creation of an integrated, logically connected system of educational methods and tools. The renewed training of master students in physical sciences is characterized by practice-oriented courses, programs and educational tools (e.g. using digital learning environments and e-books). An exchange of good practices between three European universities improved educational and linguistic competences of the Belarusian staff. Feedback from stakeholders (students, teachers, researchers, employers, labour market, a national accreditation institution) has been obtained during the entire project life cycle and has been taken into account. The new curricula are developed and adjusted according to the stakeholders’ feedback in five stages: gap analysis, development of curricular, accreditation, obtaining feedback from stakeholders, analyses and adjustments.