Business news

MINSK, 22 March (BelTA) – Members of the Council of the Republic, as part of the parliamentary delegation, took part in a meeting with representatives of China Merchants Group led by Hu Zheng, member of the Board of Directors of China Merchants Group, CEO of the Great Park Industrial Park Development Company, BelTA learned from the press service of the Council of the Republic.

The meeting was held during the working trip of the parliamentary delegation to China, which is underway on 21-30 March.

The parties discussed the development of the China-Belarus industrial park Great Stone. The park has already included a business center, a trade and exhibition complex, warehouses and a hotel. The construction of a business incubator will be launched in June 2018. The center will promote innovative startup projects.

“The park should become a zone of experiments and innovations,” Hu Zheng stressed. In his words, in January-February 2018 five companies became park residents. The park comprises 28 residents: 16 Chinese, six Belarusian and six companies from other countries.

The park has already created conditions for large-scale attraction of investors. “The park is open to any company across the globe. We welcome investors from Europe and the United States,” he said. Among the advantages of cooperation with Belarus Hu Zheng named the country’s favorable geographical position, security and stability, a well-developed industrial base. China has big hopes for the Great Stone and views it as an important link between Europe and Asia. “The park will become a robust pillar in the Silk Road Economic Belt project,” Hu Zheng said.

There are plans to increase the number of park residents to 70 by late 2020. “We expect to raise $2-2.5 billion in investment as part of the contracts,” Hu Zheng said.

The Council of the Republic delegation has comprised chairperson of the standing commission on legislation and state construction Alla Bodak, chairperson of the standing commission on education, science, culture and social development Irina Starovoitova, deputy chairperson of the standing commission on economy, budget and finances Nina Zheleznova, deputy chairman of the standing commission on economy, budget and finances Mikhail Sitko, deputy chairman of the standing commission on international affairs and national security Grigory Bysyuk, and member of the standing commission on regional policy and local government Galina Tribunakh.