Great Stone Industrial Park to get extra preferences to stimulate new investment cycle – draft

<p> MINSK, Jun 7 - PrimePress. The China-Belarus Industrial Park Great Stone will be given additional preferences: a draft presidential ordinance is in the pipeline, aimed improving the investment climate and stimulate a new investment cycle in the park. The draft ordinance envisages the facilitation of administrative procedures, higher self-sufficiency of the Great Stone administration bodies, a wider range of business activities. The draft was officially presented to President Lukashenko at a conference meeting on June 7, the president’s press-service reports. </p> <p>   </p> <p> Lukashenko remarked that the industrial park has been operating in certain legal conditions for almost a decade, the number of resident companies has been growing by 10-15% per year. “The park offers big preferences. We set up this park with a purpose to attract cutting-edge technologies to the country. We will teach our people to work with these technologies. And the experience of the park in industrial spheres will benefit Belarus. This is the main thing,” said Lukashenko. </p> <p>   </p> <p> In his words, practice showed that certain aspects of legal regulation need improvement and revision, especially for raising the inflow of financial investments and bigger economic benefits from the park for the country in general. The draft ordinance is expected to revise certain conditions of the operation of the Great Stone park and to improve business regulations there. In particular, plans have been made to set up clusters and support innovative activities. </p> <p>   </p> <p> “As for clusters, the organizational infrastructure, if it is important and necessary – there is no problem, we will go this way,” the head of state said. “The second thing is the improvement and support of innovative activities. What else do we need to do in this field? The park offers very attractive preferential conditions. Probably, we have not created anything yet. We will prioritize the interests of investors and the interests of our economy, state and society.” </p> <p>   </p> <p> According to Head of the Great Stone Administration Alexander Yaroshenko, more than $670 million has been already invested in the development of the industrial park. Budget investments accounted for only 5%, or $31 million of this amount, and were used for infrastructure development. </p> <p>   </p> <p> The park is oriented on four basic clusters: automotive components, electric transport and electric equipment, medical products and equipment, pharmaceutics, comprehensive logistics. </p> <p>   </p> <p> The Great Stone Park is located in the area of ​​the Minsk National International Airport on the area of 112.5 sq. km. The special preferential legal regime is granted to the Park until 2062. Its residents mainly focus on electronics, biomedicine, fine chemistry and mechanical engineering. The committed investment for residents is $5 million (at least $500,000 for a research project). The land in the Park can be privatized. As of today, the park unites 69 resident companies from 13 countries with the nominative volume of investment of more than $1.25 billion. About of half of these companies have already launched production facilities and created over 1,660 jobs. End </p>

2021-06-08

Primepress