OREANDA-NEWS.  June 30, 2014. The tasks that have to be fulfilled to implement projects of the Chinese-Belarusian Industrial Park will be fulfilled. Prime Minister of Belarus Mikhail Myasnikovich made the statement at the ceremony to place the first stone in the Chinese-Belarusian Industrial Park near the village of Bykachino, Smolevichi District, Minsk Oblast.

Representatives of government agencies and business circles of the People's Republic of China, government agencies and organizations of Belarus, potential investors took part in the ceremony.

“We are participants of a historical event. We are starting the largest Belarusian-Chinese project to date,” said the head of government. “The park will foster the development of the most advanced branches of science and the production sector, highly intellectual enterprises will create new products that will successfully compete on the global market. It will generate the newest knowledge and thousands of our citizens will acquire professional expertise in the park”.

“It is for the sake of accelerated development of the country that we undertake to accomplish very complicated tasks,” stressed the Prime Minister. The project has become possible thanks to the political will and practical aid of the leaders of Belarus and China.

Mikhail Myasnikovich assured that the most comfortable conditions for work will be created in the park. He added that the volume of investments in projects involving Chinese partners in Belarus is now estimated at USD15 billion while the volume of investments in projects involving Sinomach Corporation is estimated at USD 1.7 billion.

“Intelligence occupies the dominating position in the economic and social development of countries in conditions of the rapidly changing world. It is where the force for the mankind to develop and prosper lies,” concluded the Prime Minister.

Ambassador Extraordinary and Plenipotentiary of China to Belarus Cui Qiming said at the ceremony that “through joint efforts we will convert the Chinese-Belarusian Industrial Park into a dazzling pearl”.

The Chinese-Belarusian Industrial Park is an administrative and territorial unit that offers preferential legal terms for the sake of raising the investment appeal and allowing residents to do business in comfort. The park's concept provides for creating an infrastructure conducive to business development, a considerable tax relief for participants of the project for quite a long period of time, support for residents of the park and the provision of government services using the one-stop principle.

The park will be built for 30 years in Smolevichi District 25km far from Minsk in the immediate vicinity of an international airport, a railroad, and the transnational motorway Berlin-Moscow. The park occupies 8,048ha. In line with the general layout the northern site — an industrial and logistics zone as large as 851ha — will be developed first. Initially about 25,000 people will be involved in the park's economy. Later on the number may rise up to 120,000 people. The total volume of investments may reach USD 5.6 billion.

SZAO Industrial Park Development Company has been created for the sake of implementing the project. China CAMC Engineering Company (CAMCE) contributed 45% to the company's charter fund. The other contributors are the Minsk Oblast Executive Committee (32.5%), Harbin Investment Group (15%), the Minsk City Executive Committee (3.75%), and the holding company Horizont (3.75%).

The park's administration has been tasked with enabling the conditions to attract foreign and domestic investments, organize and develop high-tech and competitive enterprises, create more jobs in the park for the sake of the social and economic development of Belarus. The administration will be tasked with registering resident companies, signing and prolonging contracts on their operation terms. The priority business avenues include fine chemistry, biomedicine, electronics industry, and mechanical engineering.