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Presidential decree on development of China-Belarus industrial park signed

MINSK, 11 June (BelTA) – On 11 June Belarus President Aleksandr Lukashenko signed decree No.215, which improves the regulatory framework in order to improve the investment climate in the China-Belarus industrial park Great Stone, BelTA has learned.

The decree gives the park’s administration more independence by means of transferring additional functions from municipal authorities with regard to the implementation of administrative procedures. The decree also expands the types of business the industrial park welcomes, provides support for startups and offers preferential terms for major investment projects with the volume of investments at least as large as $50 million.

BelTA reported earlier that on 7 June Aleksandr Lukashenko was informed about prospects of development of the industrial park. The head of state noted that the Great Stone ecosystem is attractive thanks to the special financial conditions, the well-developed infrastructure, logistics, and geographical location. The steadily growing number of resident companies (10-15% up per annum) and new enterprises confirms it.

Sixty-nine resident companies with founders from 13 countries (from China to Germany, Switzerland, and the USA) are already implementing projects in the China-Belarus industrial park Great Stone. The park has existed for nearly ten years in certain legal conditions. Practice indicates that some aspects of the legal framework required clarification and evolvement, the president noted during the government conference on 7 June. Particularly for the sake of increasing investments and the park’s economic impact on the country as a whole.

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