Impressive industrial park being set up near Minsk

Grand project to create 500,000 jobs and billions of Dollars of investment

By Roman Anikeenko

The Belarusian-Chinese Industrial Park — covering over 8,000 hectares — is to be built in the south-western part of the Smolevichi District, to the west of Minsk National Airport. The Council of Ministers has approved the draft decree and, if supported by the President, realisation of the grand project could begin in 2012. “The total volume of investment, on projects at various stages of realisation, is estimated at $16bn,” noted Belarus’ Prime Minister, Mikhail Myasnikovich, on meeting the Ambassador Extraordinary and Plenipotentiary of China to Belarus, H.E. Mr. Gong Jianwei.

Horizont Holding and Chinese CAMCE Corporation are the co-founders of the park, planning to set up a major complex uniting industrial sites for electronics, machine building, precise chemistry and bio-medicine. In addition, there will be accommodation, office space, logistical premises and financial centres supporting the park’s research and scientific work. 
“Preliminary estimations conducted by China show that $5-6bn will be needed in the first 10-15 years, to create infrastructure,” explains the Head of the Belarusian Economy Ministry’s Main Department for Investments, Kirill Koroteyev.

Horizont believes that up to 600,000 jobs will be created at the park over the coming thirty years. Privileged terms for profit and property taxes, in addition to lower payments into the Social Protection Fund, aim to inspire interest. Moreover, residents will pay just 9 percent income tax (instead of 12 percent): similar to the High-Tech Park.

Initially, 400 hectares is to be built upon, including construction within 15 villages and dacha settlements on site. The Economy Ministry asserts that residents’ interests won’t suffer. “Land won’t be taken away from them for construction purposes without their consent,” asserts Mr. Koroteyev.

Заметили ошибку? Пожалуйста, выделите её и нажмите Ctrl+Enter