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Economy
05 March 2024, 12:57

$120m in taxes paid by China-Belarus industrial park Great Stone since foundation

Photo courtesy of the China-Belarus industrial park Great Stone
Photo courtesy of the China-Belarus industrial park Great Stone
MINSK, 5 March (BelTA) – The China-Belarus industrial park Great Stone develops dynamically. Belarusian Deputy Economy Minister Alesya Abramenko made the statement as she visited the industrial park, the Economy Ministry press service told BelTA.

Alesya Abramenko said: “Sufficient attention is paid to the development of the park at all levels. In my opinion, the project fully justifies the expectations. The total sum of taxes paid to the state budget since resident companies and the joint company have started operating exceeds $120 million. Three times more than the money the state has spent on infrastructure. The growth of main performance indicators of the resident companies continued in 2023. Their output rose by 1.6 times in comparison with 2022, with proceeds up by 1.5 times. The sum of taxes, duties, and levies paid by the park’s resident companies rose by 1.8 times. Merchandise export did not grow as significantly but the trend is positive.”

While in the park Alesya Abramenko was made familiar with a number of existing manufacturing facilities and infrastructure facilities. The deputy economy minister also took part in the ceremony of registration of a new resident company – OOO Zavod Gerkon. The company intends to implement a project to make automobile electric and electronic systems. “Belarusian mechanical engineering flagship companies – MAZ, BelAZ, MTZ – will need these products. We have serious hopes for this project and believe in its success,” she stressed.

The China-Belarus industrial park Great Stone is a special economic zone with a special legal regime. It is located 25km away from Minsk. The park’s priority development areas include mechanical engineering, electronics and telecommunications, biotechnologies, pharmaceutics, new materials, logistics, digital commerce, big data storage and processing.

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