Chinese corporations in China-Belarus industrial park help attract investors: Park official

MINSK — The presence of large Chinese corporations in the China-Belarus industrial park Great Stone helps attract investors to the park, the head of the park's administration has said.

Major Chinese companies have become a guiding light for investors not only from China, but also from other countries, Alexander Yaroshenko said in a recent interview with Xinhua.

"Invested by Chinese corporations such as China Merchants Group and China National Machinery Industry Corporation (Sinomach), the first facility in the industrial park was completed in 2017," Yaroshenko said.

"In less than two years, the infrastructure construction of the park was also finished in the same year, which was originally scheduled to be completed in 2018," Yaroshenko said.

Yaroshenko said that these large Chinese companies were also the main shareholders of China-Belarus Industrial Park Development Company.

"Accordingly, their money, their share capital and their financial resources are being actively used in the infrastructure of our parks. Meanwhile, they are positively promoting the development of the park and participating in the construction of the park," he added.

China Merchants China-Belarus Commerce & Logistics Corporation, a subsidiary of China Merchants Group, is the first resident company in the China-Belarus industrial park.

In May, the first stage of the China-Belarus Commerce & Logistics Park on the territory of Great Stone was commissioned. About $120 million have been invested in the construction of the subpark.

"Within the framework of the project, three logistics warehouses with a total area of 47,000 square meters have been already completed as well as an open container yard with 54,000 square meters. Besides, the trading center and the commercial center with a hotel are nearing completion," he added.

In addition, YTO Group Corporation, a subsidiary of Sinomach, has entered the industrial park, in which it intends to carry out business activities in the field of scientific research, Yaroshenko said.

Sinomach's subsidiary in the park also includes China CAMC Engineering Co Ltd. As the general contractor for the infrastructure construction of the park, it participated in the construction of the integrated office building and the standard workshop for leasing to other resident companies in the park, he said.

Yaroshenko hoped that Sinomach will implement some new projects and carry out production activities in the park.

"The role that these Chinese corporations play in the construction of the China-Belarus industrial park is huge and very important," Yaroshenko said.