Chinese firms draw investors to Belarus industrial park

The presence of large Chinese corporations in the China-Belarus industrial park Great Stone, near Minsk, the capital of Belarus, has helped attract investors to the park, the head of the park’s administration has said.

Major Chinese companies have become a guiding light for investors not only from China, but also from other countries, Alexander Yaroshenko said in an interview with Xinhua News Agency.

“Invested in by Chinese corporations such as China Merchants Group and Sinomach (China National Machinery Industry Corp), the first facility in the industrial park was completed in 2017,” Yaroshenko said. “In less than two years, the infrastructure construction of the park was also finished in 2017, which was originally scheduled to be completed in 2018.”

Yaroshenko said that these large Chinese companies were also the main shareholders of China-Belarus Industrial Park Development Co.

“Accordingly, their money, their share capital and their financial resources are being actively used in the infrastructure of our parks. Meanwhile, they are positively promoting the development of the park and participating in the construction of the park,” he added.

China Merchants China-Belarus Commerce & Logistics Corp, a subsidiary of China Merchants Group, is the first resident company in the China-Belarus industrial park.

In May, the first stage of the China-Belarus Commerce & Logistics Park in Great Stone was commissioned. About $120 million has been invested in the construction of the subpark.

In addition, YTO Group Corp, a subsidiary of Sinomach, has entered the industrial park. It intends to carry out business activities in the field of scientific research, Yaroshenko said.

“The role that these Chinese corporations play in the construction of the China-Belarus industrial park is huge and very important.”