Belarus’ Great Stone Industrial Park to host Belt and Road Forum July 1-3
27 March 2019
MINSK - The China-Belarus forum on cooperation and regional development in the framework of the Belt and Road initiative is due in the Great Stone Industrial Park on July 1-3, 2019, the Economy Ministry of Belarus said in a statement.
Preparations for the Belt and Road Forum were on the agenda for the meeting between Belarus’ Vice Minister of Economy Yelena Perminova and representatives of China’s Ministry of Commerce.
Vice Minister Yelena Perminova has been on a working visit to China.
Perminova also attended the general shareholders meeting of SZAO Industrial Park Development Company. During the meeting they analyzed possibilities for attracting large resident companies to the Great Stone Park and increased the inflow of investments.
On Mar 27 Vice Minister Yelena Perminova is due to attend the business cooperation forum of China, Belarus and the Great Stone Industrial Park. During the forum Belarus will make a presentation of its export potential and investment possibilities.
As previously reported, Belarus set up an organizing committee for the China-Belarus forum on cooperation and regional development, which will be held in 2019 in the framework of the Belt and Road initiative.
Economy Minister Dmitri Krutoy was appointed chairman of the organizing committee, while Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich will act as deputy chairman of the committee.
The organizing committee will also include representatives of the China-Belarus Industrial Park Great Stone, the Ministry of Finance, The Ministry of Information, the Ministry of Foreign Affairs, the Ministry of Culture, Ministry of Transport, the Ministry of Sport and Tourism, the National Agency for Investment and Privatization, Minsk City Hall and Minsk Region Executive Committee.
The organizing committee is supposed to prepare an action plan for the Belt and Road Forum, which is due in July 2019 in the Great Stone Industrial Park.
The Great Stone Industrial Park is based in Smolevichi Rayon (Minsk Region), where a special economic area will be established on an area of 112.5 sq km 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.
At the initial stage, 10,000 jobs will be created. After the part starts operating at full capacity, the number of jobs will increase to 132,000. So far 43 companies have been registered as residents at the Great Stone Park.