Business news

MINSK, 1 August (BelTA) - The sixteenth resident has been registered in the Belarus-China industrial park Great Stone, head of the park’s administration Alexander Yaroshenko told the media as he visited Great Stone together with a Chinese delegation led by Xiao Yaqing, Chairman of the State-owned Assets Supervision and Administration Commission at China’s State Council on 1 August, BelTA has learned.

“We registered another three residents literally last week. One of them is a Belarusian investor working in big data processing. The second one is an American corporation producing lasers. It will start with manufacturing laser equipment. Laser technologies will then be applied in other fields, medicine, for example. Today the park another resident company registered in the park: China Electronics Technology Group Corporation (CETC). It is involved in data processing and artificial intelligence. As of 1 August, there are 16 resident companies in Great Stone,” Alexander Yaroshenko added.

He spoke about the plans to develop a project to produce unmanned aerial vehicles. “Today we are signing the documents to launch this project. Then we will speak about registering the park’s resident. The project is multilateral, with the participation of Chinese and Belarusian investors. We want the new venture to be situated here,” the head of the park’s administration noted.

According to Chief Executive Officer of the Industrial Park Development Company Hu Zheng, Great Stone has been developing quite rapidly. “Today the main task is to attract investors. We expect to register over 20 resident companies by the year-end,” he underlined.

The establishment of a $585 million investment fund to attract new resident companies to the park is under discussion. “The fund is not only expected to support the projects carried out by state-run companies. It will also consider the possibility of supporting small- and medium-sized business and foreign investment projects,” Alexander Yaroshenko underlined.

During the visit to the China-Belarus industrial park Great Stone, the Chinese delegation led by Chairman of the State-owned Assets Supervision and Administration Commission at China’s State Council Xiao Yaqing attended a ceremony to open offices of the resident companies of the park and sign agreements with new resident companies.