OREANDA-NEWS. November 22, 2012. The Chinese company CITIC is ready to expand cooperation with Belarus, chairwoman of the Board of CITIC Construction Ms Hong Bo told reporters following talks with Prime Minister of Belarus Mikhail Myasnikovich. The meeting took place on the sidelines of Belarus Investment Forum.

According to Ms Hong Bo, today the company is building three cement lines in Belarus. "Now we are discussing the possibility of creating facilities into manufacture building materials, in solar power engineering, infrastructure and agriculture,” said Ms Hong Bo. She noted that CITIC plans to bring advanced Chinese technology to Belarus to help the country's economy, improve the well-being of its people.

Ms Hong Bo praised the investment climate in Belarus. The investment forum, which is currently in progress in Minsk, can enhance the investment attractiveness of the country, she believes. "I think once the investors become familiar with the terms offered by Belarus, they will have more confidence in this market,” said Ms Hong Bo.

The negotiations with Prime Minister Mikhail Myasnikovich discussed the terms of implementation of joint projects, and also the prospects for further cooperation. According to Mikhail Myasnikovich, the overall project portfolio of Belarus and China is estimated at USD16 billion. Only two projects are implemented through direct investments from China. One of them is the construction of the Peking Hotel.

Belarusian Prime Minister invited Chinese business to invest more actively in the economy of Belarus. "We want to work not only with credit resources but also with direct investment. For you it is a good diversification of capital. Therefore we need to switch from lending over to investing,” he said.