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Infrastructure development ahead of investor numbers in China-Belarus industrial park

Head of the China-Belarus industrial park Great Stone administration Alexander Yaroshenko talked to Belarusian and Chinese reporters on 2 May, BelTA has learned. The executive shared his expectations regarding the development of the industrial park. Alexander Yaroshenko noted that the construction of infrastructure inside the industrial park is ahead of schedule by virtually 50%. “Within 24 months we've built the infrastructure we were supposed to build within 36 months,” he said. “We would like to attract investors as fast. Instead of the eight or nine investors we have now we would like to have 20 just like we planned for the end of this year. By the end of 2020 we would like to have at least 100 investors.” Alexander Yaroshenko also revealed in detail the preferences available to resident companies in the China-Belarus industrial park Great Stone. In particular, corporate taxes are waived for the resident corporation and the investor for the first ten years after registration. The taxes include land tax, profit tax, and real estate tax. All the materials, services, and equipment imported for the sake of implementing the investment project are exempted from customs duties and value-added tax. “There is another peculiarity we widely advertise: the Great Stone park is the only territory in Belarus where investors can buy land into private ownership. Nowhere else is the option available to corporations in Belarus. Or the land can be rented for a period of 99 years,” noted the head of the industrial park administration. Chinese reporters are in Belarus on a media tour on 1-7 May. During the tour of the China-Belarus industrial park Great Stone they were informed about all the resident companies and the main facilities, which are being built for the convenience of the resident companies.

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