Cornerstone Laying Ceremony Held in Industrial Park near Minsk

On June 19, a cornerstone laying ceremony was held in the China–Belarus Industrial Park near the village of Bykacheno, Smolevichi district, Minsk region. Belarusian government officials, namely Mikhail Myasnikovich, Prime Minister, and Anatoly Tozik, Deputy Prime Minister, as well as top managers of Chinese companies, including Sinomach, CAMC Engineering, Huawei, ZTE, and Lenоvо Group Limited, participated in the foundation stone laying ceremony.

Alexander Yermak, Head of China–Belarus Industrial Park Administration, pledged that the first residents will be registered in the soonest possible time. Chinese Huawei followed by ZTE will become the first residents of the park.

The construction of the first phase will be launched on the area of 850 hectares and will be completed within five years. It is planned that initially the park will employ around 25 thousand people and will raise an investmentof US $ 5.6 billion.

The park’s priority business areas are electronic engineering, fine chemistry, biomedicine, new materials, and mechanical engineering. A company from any country of the world may become a resident of the park.To ensure a comfortable business environment, the park will be viewed as a separate territorial unit with a special legal regime. For next 50 years, the industrial park in Belarus will offer a number of benefits to its resident companies, including preferential taxation, free custom zone regime, and exemption from customs duties and VAT.

In thirty years, the Industrial Park will cover the area of over eight thousand hectares where more than 120 thousand employees will reside, work, and spend their free time.

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