Seven resident companies registered in China-Belarus industrial park Great Stone so far this year

MINSK, 22 February (BelTA) – Seven new resident companies have been registered in the China-Belarus industrial park Great Stone this year, the press service of the Belarusian Economy Ministry told BelTA.

Privileges, preferences and comfortable conditions for doing business granted by the Belarusian legislation attracted 19 new resident companies to the China-Belarus industrial park Great Stone in 2022 and seven companies so far in 2023. The total number of resident companies stands at 107. Their planned volume of investments is $1.3 billion.

Existing companies did well in 2022. Their output rose by 1.5 times, export by 1.3 times, earnings from sales by 1.9 times, net profit by 2.4 times. Taxes, dues, and fees paid to the state budget and extrabudgetary funds rose by 2.2 times.

Head of the Development Infrastructure Office of the Economy Ministry Olga Bondar noted that with a view to enabling additional conditions for attracting new investors work will continue in 2023 to further improve the industrial park's special legal regime with a focus on the realization of new high-tech projects, including in the area of traditional and innovative Chinese medicine. “There are plans to also implement promising projects in logistics, digital commerce, fine chemistry, biotechnologies, instrument making, R&D, and other areas. For instance, just yesterday OOO Bel-Nord Logistics became a new resident company of the industrial park. The company intends to implement a project in the sphere of international digital commerce and organization of transportation by road between China and Europe. This initiative will also help accomplish a most important strategic task – to expand the presence of Belarusian goods on the Chinese market,” the Economy Ministry representative said.