Great Stone Park’s future depends on European sanctions effect– expert
<p> MINSK, Jul 8 - PrimePress. The future of the Chinese-Belarusian Great Stone Industrial Park depends on the effects of the EU sanctions against Belarus, Vladimir Nezhdanov, expert with the Moscow-based Center for the Study of Integration Prospects, told Eurasia portal. </p> <p> According to Nezhdanov, Great Stone is not perceived as a unique stand-out project, but as a foothold for facilitating Chinese companies’ entry into the markets of the European Union (EU) and the Eurasian Economic Union (EEU). Therefore, the Park’s future will be determined by two points. </p> <p> “On the one hand, specifics of the Belarusian-EU relationship and the pressure of the EU sanctions on Minsk will be taken into account, since most residents of Great Stone seek presence in European markets. On the other hand, economic development of the EEU and the purchasing power of the Eurasian Union population, primarily Russians, will also be a matter for consideration,” said Nezhdanov. </p> <p> The expert cited as an example the plant that manufactures Geely cars, which is primarily intended for supplies to Russia. The idea of setting up a Geely engine plant in the Park is also primarily based on an assessment of the purchasing power of Russian households in the medium term. </p> <p> “Accordingly, Great Stone’s future now depends on how Chinese companies will act to avoid EU sanctions and on economic development of the EEU in general and Russia in particular,” Nezhdanov said. </p> <p> The Great Stone Park is located in the area of the Minsk National International Airport in 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 declared investment for residents is $5 million (at least $500,000 for a research project). The land in the Park can be privatized. Seventy-one companies from 15 countries are registered as residents of the Park, with total declared investments of over $1.2 billion. End </p>
2021-07-08
Primepress
Great Stone Park’s future depends on European sanctions effect– expert
MINSK, Jul 8 - PrimePress. The future of the Chinese-Belarusian Great Stone Industrial Park depends on the effects of the EU sanctions against Belarus, Vladimir Nezhdanov, expert with the Moscow-based Center for the Study of Integration Prospects, told Eurasia portal.
According to Nezhdanov, Great Stone is not perceived as a unique stand-out project, but as a foothold for facilitating Chinese companies’ entry into the markets of the European Union (EU) and the Eurasian Economic Union (EEU). Therefore, the Park’s future will be determined by two points.
“On the one hand, specifics of the Belarusian-EU relationship and the pressure of the EU sanctions on Minsk will be taken into account, since most residents of Great Stone seek presence in European markets. On the other hand, economic development of the EEU and the purchasing power of the Eurasian Union population, primarily Russians, will also be a matter for consideration,” said Nezhdanov.
The expert cited as an example the plant that manufactures Geely cars, which is primarily intended for supplies to Russia. The idea of setting up a Geely engine plant in the Park is also primarily based on an assessment of the purchasing power of Russian households in the medium term.
“Accordingly, Great Stone’s future now depends on how Chinese companies will act to avoid EU sanctions and on economic development of the EEU in general and Russia in particular,” Nezhdanov said.
The Great Stone Park is located in the area of the Minsk National International Airport in 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 declared investment for residents is $5 million (at least $500,000 for a research project). The land in the Park can be privatized. Seventy-one companies from 15 countries are registered as residents of the Park, with total declared investments of over $1.2 billion. End