Foundation Laid for Largest Economic and Trade Cooperation Project Between China and Belarus.
On June 20, 2014, Mr. Ren Hongbin, chairman of SINOMACH, made an official visit to Belarusian President Alexander Lukashenko at the Belarusian Presidential Palace. During the visit, both sides made an agreement on the construction of the China-Belarus Industrial Park project, which is the largest economic and trade cooperation project between China and Belarus.
President Lukashenko stated that China and Belarus are comprehensive strategic cooperative partners. The China-Belarus Industrial Park project is the most important project in the cooperation between China and Belarus. The government of Belarus will do its best to support this project and expects this project to turn to the best industrial park with best quality in Europe in the shortest time.
Chairman Ren Hongbin appreciated President Lukashenko’s trust and support for SINOMACH. He said that as a member of the Eurasian Economic Union, Belarus is an important link between EU and Russia due to its advantageous geographical location in the center of Europe. Actively responding to President Xi Jinping's proposal of building the Silk Road economic belt and the Eurasian Economic Integration, SINOMACH is making every effort to build overseas economic and trade cooperation zones. The China-Belarus Industrial Park is the best embodiment of carrying out this strategy. SINOMACH is confident in Belarus’ development and has a strong willing to cooperate with Belarus. Based on the Strategic Cooperation Agreement signed between the government of Belarus and SINOMACH, SINOMACH will further expand cooperation fields and promote the cooperation with Belarus.
On June 19, 2014, the foundation stone was laid and construction commenced in suburbs of Minsk, capital of Belarus, for the China-Belarus Industrial Park project undertaken by China CAMC Engineering Co., Ltd. (CAMCE), indicating that the China-Belarus Industrial Park project enters the implementation phase after four years of preparation.
A total of 150 guests, including Belarus Premier Mikhail Myasnikovich, Vice Premier Anatoly Tozik, China ambassador to Belarus Cui Qiming, chairman of SINOMACH Ren Hongbin, vice mayor of Harbin Qu Lei, chairman of CAMCE Luo Yan and representatives of Chinese and Belarusian entrepreneurs, attended the groundbreaking ceremony.
Belarus Premier Mikhail Myasnikovich pointed out in this speech that Belarus and China have maintained good momentum of economic and trade cooperation, Chinese entrepreneurs have shown growing enthusiasm for investment in Belarus, and China's investment amount in Belarus has been growing rapidly. Belarus has been undergoing market-oriented economic reforms and will provide various preferences for foreign enterprises to invest in the country and boost the attractiveness of Belarus for foreign investors. Premier Mikhail Myasnikovich stated that the groundbreaking of the China-Belarus Industrial Park was a great start and an excellent example. He wished that the industrial park would grow bigger and stronger.
China ambassador to Belarus Cui Qiming addressed that Belarus is an important partner of China in the Eurasian area and good news about economic and trade cooperation between China and Belarus has come frequently in the past years. The construction of the China-Belarus Industrial Park would further integrate resources of both sides and lay a solid foundation for innovating cooperation modes and expanding cooperation channels.
Chairman Ren Hongbin expressed in his speech that the China-Belarus Industrial Park was a major investment project of SINOMACH in following the Go Out Policy and promoting the industrial structure transformation and upgrade. With the guidance of both Chinese and Belarusian governments, SINOMACH would fulfill responsibilities of state-owned enterprises and make every effort to build the China-Belarus Industrial Park as a model of overseas investment projects, a landmark of economic and trade cooperation between China and Belarus, and a "shining pearl" in the Silk Road economic belt.
After the groundbreaking ceremony, chairman Ren Hongbin paid an official visit to Belarus Premier Mikhail Myasnikovich and signed a Strategic Cooperation Agreement with the Belarusian government. Chairman Ren Hongbin expressed that SINOMACH, a Chinese enterprise that undertook the most projects with the largest scale in Belarus, would explore and deepen mutual beneficial cooperation with Belarus in fields such as engineering, project, trade, and joint production and development as well as fully implement the major strategic cooperation project—the China-Belarus Industrial Park based on the newly signed Strategic Cooperation Agreement.
The China-Belarus Industrial Park is constructed by joint ventures of CAMCE and Harbin Investment Group Co., Ltd from China (collectively accounting for 60% of the shares) and Minsk state government, Minsk municipal government, and Horizon Capital from Belarus (collectively accounting for 40% of the shares). The China-Belarus Industrial Park focuses on key projects in industries such as electronic information, biomedicine, fine chemicals, high-end manufacturing, and logistics & warehousing. Currently, enterprises from the Chinese mainland and Taiwan, Japan, South Korea, and European countries have expressed their willingness to settle in the China-Belarus Industrial Park. Enterprises that settle in the China-Belarus Industrial Park will be fully exempted from taxes in the first ten years and are entitled to half of taxes in the second ten years.
