Business news

MINSK, 1 September (BelTA) – Resident companies of the Belarus-China industrial park Great Stone intend to implement over $700 million worth of projects, Belarus Deputy Prime Minister Anatoly Kalinin noted during a meeting with Hu Zheng, general representative of China Merchants Group in Central Asia and the Baltic states, member of the Board of Directors of China Merchants Group, CEO of the Industrial Park Development Company, BelTA learned from the press service of the government.

The parties noted that the registration of new resident companies has intensified in the wake of the decree signed by the Belarus president in May 2017 to improve business regulations in the Great Stone Industrial Park and thanks to efforts of the Chinese representative office.

As of today, there are 18 companies in the park. They stated they want to implement over $700 million worth of projects. Their number may grow up to 23 by the year-end.

The construction of the infrastructure of the park’s first phase is almost over. Almost $100 million has been invested in the Great Stone project so far. According to Hu Zheng, this enables the conditions to move to the next stage, namely the prompt construction of manufacturing facilities.

Several projects are currently at the final commissioning stage: facilities of the logistics subpark of China Merchants CHN-BLR Commerce and Logistics, and a manufacturing facility producing supercapacitors of Chengdu Xinzhu Silk Road Development.

The sides also discussed further steps towards establishing a joint construction and design institute to accelerate the implementation of investment projects in the park. They agreed to finish this work in 2017.

Anatoly Kalinin commended the high-level cooperation and the excellent job done by Chinese and Belarusian specialists to commission the trade and logistics subpark of China Merchants Group, which is the first flagship project in the Great Stone park.