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22 Dec 2018

Investments in China-Belarus industrial park estimated at $180m in 2018

Investments in China-Belarus industrial park estimated at $180m in 2018

MINSK, 22 December (BelTA) – Investments in the China-Belarus industrial park Great Stone are projected at not less than $180 million in 2018, Belarus Finance Minister Maksim Yermolovich said in an interview to the Finances. Accounting. Audit magazine, BelTA has learned.

“The administration of the park estimates that the volume of attracted investments in 2018 will reach at least $180 million. The accumulated investments since the establishment of the industrial park are projected at $500 million, including $225 million of resident funds and $225 million of investments in infrastructure development,” Maksim Yermolovich noted.

It is projected that by 2020 the China-Belarus industrial park will have more  than 100 resident companies with the investment capacity of not less than $2 billion, the output of not less than $1 billion and 6,500 new high-performance jobs.

“The industrial park enjoys the best legal regime compared with other preferential business practices in Belarus,” the minister said. Residents of the park are exempt from profit tax for 10 years. In the future, tax will be levied at a rate reduced by 50% until the end of the term of the special legal regime (14 June 2062). Residents are also exempt from property tax and land tax until the end of this term. Before 1 January 2027 income tax shall be paid at the rate of 9%.

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