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23 Dec 2020

Committed investments in Great Stone park estimated at $1.2 billion

Committed investments in Great Stone park estimated at $1.2 billion

MINSK, 23 December (BelTA) - The committed investments of resident companies of the China-Belarus industrial park Great Stone are estimated at more than $1.2 billion, China's Ambassador to Belarus Xie Xiaoyong said at a ceremony to open the China-Belarus S&T Cooperation Center at the Great Stone park on 23 December, BelTA has learned.

"Great Stone is gradually turning into a modern park with full-fledged infrastructure and comprehensive investment environment. To date, 68 companies from 14 countries have been registered as residents with a total investment of more than $1.2 billion," Ambassador Xie Xiaoyong said.

According to him, despite the COVID-19 pandemic, the development of the industrial park continued. The administration and resident companies have joined forces in the fight against the pandemic and have advanced in building built facilities and attracting investment.  In particular, the parties coped with the difficulties associated with restricted movement of people and transportation of materials during the construction of the China-Belarus S&T Cooperation Center.

"The center will provide new opportunities for the development and growth of high-tech, innovative, research enterprises from different countries,” the ambassador noted.

Deputy Head of the Belarus President Administration Dmitry Krutoi said that the industrial park performed well in 2020. “The results are good against the rest of the economy: $75 million in exports, $300 million in investment, almost 1,000 new jobs, and the average wage at Br2.500,” said Dmitry Krutoi.

He called the new China-Belarus S&T Cooperation Center a very important and landmark facility.

“Out of 68 residents of the park, 12 are engaged in science, innovation, new and absolutely unique developments. This is almost 20% of the total. If this proportion were observed in the structure of investment in our economy, I think we would have a completely different return on investments and a different quality of the investment process in the country. The park has been set up to implement projects mainly of the fifth and sixth technological waves, the latest developments and innovations, and it fulfills its mission,” Dmitry Krutoi believes.

According to him, the second stage of the development of the park and its 850ha area envisages the development of an eco-friendly smart city, with non-standard solutions, assimilation of advanced innovations in telecommunications, information, mobile, unmanned technologies, artificial intelligence, and quantum computing.

The center will be the park’s first comprehensive platform to nurture  innovative entrepreneurship and cooperation in science and technology. It will house research laboratories, incubation and acceleration zones for start-ups, a testing center and a small-scale production center, and a hall to showcase achievements.

The facility has been built on Beijing Avenue with the use of technical and economic assistance from the People's Republic of China. The five-storied building with a total area of about 19,000 square meters has a complex geometric shape in the form of a mathematical sign of infinity.

The China-Belarus Industrial Park Great Stone is a special economic zone with a special legal regime, located 25km away from Minsk. Nearly 70 residents from 14 countries are registered in the Great Stone. The priority areas for the park are engineering, electronics and telecommunications, biotechnology, pharmaceuticals, new materials, logistics, e-commerce, big data storage and processing.

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