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| Home | Business | Business environment | Industrial Park Great Stone

Industrial Park Great Stone

Aleksandr Lukashenko and Xi Jinping at the construction site of the Chinese-Belarusian industrial park Great Stone
Aleksandr Lukashenko and Xi Jinping at the construction site of the Chinese-Belarusian industrial park Great Stone

The industrial park Great Stone is the largest joint project of Belarus and China that will span decades.

A site will be created in a strategically unique location – the geographical center of Europe, at the junction of major integration associations (the Eurasian Economic Union and the European Union) and the new Silk Road. The park will welcome high-tech companies from all over the world.

The Great Stone park is being built 25km away from the Belarusian capital in close proximity to the international airport Minsk, railroads, and the transnational motorway Berlin-Moscow.

The Great Stone park is designed as a genuine eco-friendly city for innovative enterprises with a high export potential, with a special legal status and optimal conditions for doing business.

With the total territory of about 80km2, the park will include industrial and residential areas with the relevant infrastructure, a financial center and an R&D one, office premises, trade and entertainment premises...

The park’s location in a very beautiful, ecologically favorable territory of a natural reserve is one of the park’s peculiarities, this is why preserving the landscape will be one of the most important development tasks.

History of Park

The idea of creating the Chinese-Belarusian industrial park was put forward in 2010. For the first time the idea was voiced during a visit of China Vice President Xi Jinping (now head of state) to Belarus in March 2010. In October, during the official visit of Aleksandr Lukashenko to China the Belarus Economy Ministry and China CAMC Engineering Co., Ltd. (CAMCE) signed an agreement to create the park.

In January 2012, Belarus and China ratified the intergovernmental agreement on the joint project.

Belarus President’s Decree No. 253 on the Chinese-Belarusian industrial park (5 June 2012) established a special legal status of this economic zone.

The joint Chinese-Belarusian company for the development of the park was set up in August 2012. China owns 60% of the shares, Belarus - 40%.

The official foundation stone laying ceremony for the Chinese-Belarusian industrial park was held on 19 June 2014. The symbolic event was attended by over 50 top managers of the leading companies from China, among which were Sinomach, CAMCE, Lenovo Group Limited, GreatWall, Huawei, ZTE...

Today, the park, the largest project in the history of Belarus-China bilateral relations, is becoming increasingly important. It will be one of the key hubs of the Silk Road Economic Belt, an ambitious initiative of cooperation proposed by President of the People's Republic of China Xi Jinping.

On 12 May 2015 during the state visit to Belarus Xi Jinping was given a tour of the construction site of the park together with Belarus President Aleksandr Lukashenko.

The leaders of the two countries put signatures on the general layout of the Great Stone, assessed the investment projects of the park’s first residents, who received their park resident licenses in a ceremony attended by the two presidents.

Great Stone Projects

Among the main areas of activity for the residents of the Great Stone are:

  • mechanical engineering;
  • medical equipment and materials;
  • biotechnologies, pharmaceutics, fine chemistry;
  • electronics and electrical technology;
  • new materials;
  • optics;
  • others.

Profitable investment projects are suggested in every area. They are about the setting up of new manufacturing facilities to produce goods that are in demand on the global market. Apart from that, the Great Stone will be engaged in research and development.

Among the first resident companies of the park were large corporations Huawei and ZTE which are going to launch the construction of production facilities. ZTE will set up the production of mobile communication devices (4G), Huawei will focus on innovative scientific projects and the promotion of software products.

Great Stone in 2019:

  • incorporates 55 resident companies;
  • named the Eastern European Industrial Project of the Year by the EuropaProperty agency;
  • recognized the best Belt and Road initiative project in Central, Eastern Europe by Asiamoney Magazine;
  • made it into the fDi Global Free Zones of the Year 2019 according to Financial Times;
  • received FEMOZA Awards 2019 in the Fastest Growing Industrial Park nomination as the world’s fastest-growing special economic zone according to the World Free and Special Economic Zones Federation (FEMOZA).

Competitive Edge for Business

Companies from all over the world specializing in the main areas of business can become resident companies of the industrial park Great Stone (the park’s administration will also consider other innovative proposals).

The industrial park Great Stone gives the following advantages to its resident companies:

  • favorable geographic location and convenient transport corridors;
  • prospects of the duty-free access to the market of the Single Economic Space, close vicinity to the European Union market;
  • the system of tax and customs preferences (a 10+10 formula for the resident companies of the park: they will be exempt from corporate taxes for ten years and enjoy a 50% tax reduction in the following ten years);
  • comprehensive “one-stop shop” service for the resident companies of the park.
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