Two more Chinese residents join Great Stone Industrial Park
08 August 2017
MINSK - China Electronics Technology Group Corporation (CETC) and Hashrate Ltd have become resident at the China-Belarus Industrial Park Great Stone.
The aforementioned companies received residence certificates in the framework of the visit to Belarus (Jul 31 – Aug 2, 2017) by a Chinese delegation led by Xiao Yaqing, Chairman of the State-owned Assets Supervision and Administration Commission at China's State Council.
During the visit of the Chinese delegation, the parties signed several agreements. In particular, AVIC International Aero-Development Corporation, the Belarusian National Academy of Sciences’ Unmanned Aircraft Centre, and the Great Stone Park Development Company signed an agreement to establish a joint venture entitled “Multipurpose Aircraft”.
The Great Stone Industrial Park is based in Smolevichi Rayon (Minsk Region), where a special economic area will be established on an area of 8,048 ha subject to special legal regulations for a period of 50 years. The industrial park will host business projects in electronics, biomedicine, fine chemistry and mechanical engineering, which resident companies enjoying lucrative tax preferences.
The total value of the project is estimated at $30 billion. The parties have agreed that Belarus will hold a 40% stake in the authorized capital of the Belarusian-Chinese company that will develop the project.
SZAO Industrial Park Development Company was established on Aug 27, 2012 by Sinomach (32%), Minsk Region Administration (30.86%), China Merchants Group (20%), CAMCE (13.71%), Harbin Investment Group (2.29%), Minsk City Administration (0.57%), Belarus’ Horizont Group (0.57%). The Great Stone Park is currently developing its infrastructure.