Business news

29 Jan 2020

China-Belarus industrial park, opportunities for investment in Belarus presented in Moscow

An archive photo

MOSCOW, 29 January (BelTA) – A presentation of the China-Belarus industrial park Great Stone and a review of promising avenues of investment cooperation with Belarus took place in Moscow. The event was organized by the Association of European Business, which unites over 500 companies from 50 countries, the press service of the Belarusian embassy in Russia told BelTA.

Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko took part in the presentation. He noted that as an open economy Belarus trades with over 190 countries and occupies a decent position in many segments of the market. Belarus accounts for around one third of the global market of potash fertilizers. Belarus is a top five producer of medium and large-capacity haul trucks, butter, cheese, and milk powder. The ambassador talked about the country’s achievements in conventional industries – mechanical engineering, radio electronics, instrument engineering, petrochemical industry, metallurgy and agriculture – and promising industries such as information and communications technologies, microelectronics, pharmaceutics, biotechnologies, and nanotechnologies.

The ambassador stressed that IT sector is a priority for Belarus. Belarus’ Hi-Tech Park is one of the largest IT clusters in Europe, with the annual export close to $1.5 billion. Another major innovative cluster will be set up in Belarus soon to focus on nano- and biotechnologies – Belbiograd.

According to Vladimir Semashko, at present Belarus is a promising investment venue for building and developing a business. The country has created an effective system to support investors. Comprehensive work has been done to improve investment regulations. At present virtually entire Belarus represents an array of successfully operating different preferential regimes.

First Deputy Head of the Administration of the China-Belarus industrial park Great Stone Igor Leshchenok arranged a presentation of promising development areas in the park, business operation terms, and preferential regimes for foreign investors. He remarked that at present the park is home to nearly 60 resident companies from 16 countries, including China, Russia, Austria, Germany, Israel, Canada, the USA, Switzerland, the UAE, with the planned volume of investment in high-tech economy sectors in excess of $1.2 billion. The park’s residents are guaranteed unprecedented preferences that are unparalleled in the Eurasian Economic Union, the European Union, and Asia. As many as 18 countries have already started making products and providing services in the park.

Deputy Head of the Investor Support Department of the National Agency of Investment and Privatization of Belarus Aleksandr Kononchuk presented detailed information about the investment climate, conditions, and promising avenues of doing business in the country. Opinions about prospects of mutually beneficial cooperation were exchanged. Opportunities for implementing bilateral projects together with Belarusian companies met strong interest among participants of the event.

The presentation attracted about 40 participants of the Association of European Business, who represented business circles, consulting companies, and financial institutions of Russia, the USA, countries of the Commonwealth of Independent States, the European Union, Southeast Asia, and international organizations.