Business news

MINSK, 25 May (BelTA) – The output of the Chinese-Belarusian industrial park Great Stone will reach a total of $1 billion by 2021, Belarus’ Prime Minister Andrei Kobyakov said in an interview to Xinhua News Agency of China, BelTA has learned.

“As for our expectations from the park, we plan to complete the development of the first phase of 850 hectares by 2021. By 2021 we expect the following results: about $1 billion of accumulated investment since the establishment of the park, 100 residents, manufactured products to the total tune of at least $1 billion, and about 7,000 additional jobs,” said Andrei Kobyakov.

With geographical advantages and logistics development in mind, the park will help optimize transit cargo flows from China to the EU and will also promote trade with China. Thus, the park will confirm its status as an international project, representing a hub along the Chinese-European cross-border corridor of the Belt and Road initiative.

“In the development of the park, we focus not only on trade and logistics, although this is an important component of the project, but also on innovation and the development of joint high-tech industries. We prioritize advanced technologies, high value added products, their importance and competitiveness,” the prime minister said.

Currently, there are 34 residents in the Great Stone. The park has Belarusian, Chinese, Russian, American, European and Israeli capital. The total volume of planned investments by existing residents is estimated at $0.5 billion.