Business news

“The decree has changed the total territory of the industrial park which now makes up 11,247 hectares (previously – 9,150 hectares), Minsk National Airport has been included in the territory of the park (with necessary restrictions concerning the interference in its operations). The area of the economic zone (without the territory of the airport, populated areas, and allotment associations) has not changed and makes up 8,615 hectares,” the representatives of the Economy Ministry said.

Resident companies will enjoy exceptional preferential treatment in the park in comparison with other doing business regimes in Belarus, the representatives of the ministry stressed.

The document was prepared by a working group involving independent experts, including Chinese ones. It was created by the Economy Ministry. In the process of work the experts studied the operation of industrial parks in the People’s Republic of China and other countries, analyzed the existing regimes for special economic zones in Belarus and the EEU countries.

Decree No. 166 is focused on the liberalization and optimization of legislation in land, currency, labor relations, migration, customs regulation, designing, construction and commissioning of facilities of the industrial park. The document has expanded the list of tax preferences preserving the competitive regime in the industrial park, the cost of energy resources has been reduced, customs administration procedures have been simplified. Besides, the changes are aimed at raising the quality of work with investors and simplifying procedures involving state services (administrative and other procedures).