Hundreds of millions at stake for joint construction plans
By Andrey Kozhemyakin
Belarus’ Deputy Prime Minister, Anatoly Tozik, tells us that, over the past 12-18 months, bilateral relations with China have moved up, with many companies approaching Belarus with direct investments. The largest project involves the construction of a Belarusian-Chinese industrial park. “Overall, we plan to raise at least $1bn of Chinese direct investments,” he notes, adding that the total volume of investments could reach $1.5bn, as the project envisages infrastructure development.
An intergovernmental agreement is expected to be signed this September, during an official visit by the Chairman of the Standing Committee of the All-China Assembly of National Representatives, U Bango, to Belarus. “We are interested in making this visit rich in meetings, as it could inspire further collaboration,” asserts Mr. Tozik.
Belarus also plans to construct Lebyazhy residential suburb, near Minsk, with $200m of Chinese direct investments. The five-star Beijing Hotel is to begin construction this year, attracting about $200m of direct investments. Meanwhile, a multi-purpose information, trading and business centre — China Town — is planned, with Belarus hoping to raise $300-350m of direct investments.
Mr. Tozik notes that top level agreements have already been reached. “We are now preparing the necessary documents to ensure our Chinese partners enjoy favourable conditions while realising these projects,” he emphasises. He notes that over a dozen major projects, using almost $4.5bn of Chinese loans, are currently being realised countrywide.