In 2011, China and Belarus signed an agreement to build an industrial zone, the Great Stone industrial park. Xinhua News agency reported China would invest five billion U.S. dollars. Belarus president Aleksandr Lukashenko called the project one of most important joint ventures for Belarus. Five years later, Great Stone has attracted some of the most important business players from China and other countries. CGTN's Aljosa Milenkovic reports.

 

Some 25 kilometers west of Minsk, Belarus sits an area over 11,000 hectares where the economic and industrial future of the country is being created. After two years of operation, Great Stone industrial park has attracted 19 residents from six countries - major companies that have seen good business opportunities in this park. And development is far from over. The government estimates by 2020, the park will host at least 50 residents, a number that is seen as sufficient for parks self-sustainability. One government official says annual park revenue could reach tens of billions U.S. dollars.

 

ALJOSA MILENKOVIC GREAT STONE, BELARUS This nation of 9.5 million people is struggling to revive it's economy after sharp economic downturn from just a few years ago. It's geographically positioned between the east and the west and works well for Belarus. And the projects like this one are seen as not just as a bridge between those two parts of the world, but also as a step in the right direction for the economy of entire country.

 

Attracting high-tech foreign companies is part of a government plan for changing the Belarus economy. And with China's expanding economic partnership, Belarus expects to achieve a lot but the collaboration doesn't end there.

 

PAVEL UTIUPIN BELARUSIAN DEPUTY MINISTER OF ECONOMY Those projects of modernization of Belarus companies are either done or in progress, like in the cement production, where Chinese partners participated and Chinese technology was used, then number of projects related to the railways infrastructure. Also, together with Chinese car maker Geely, we're finishing construction of the new car factory with initial annual capacity of 60,000 cars, construction of one of cellulose factories is in final phase and many, many other projects.

 

But the Great Stone industrial park remains the most important among all those joint Chinese - Belarus projects.

 

ALEXANDER YAROSHENKO BELARUSIAN HEAD OF ADMINISTRATION, GREAT STONE INDUSTRIAL PARK This is one of largest, if not the largest, Chinese projects abroad, and at the same time it is on the so called Silk Road. It is example for the other countries how to develop mutual collaboration, to develop certain territories with the influx of Chinese capital, Chinese investments and Chinese technologies.

 

In the Great Stone industrial park, the final touches are being made on one of the China Merchant buildings. Once the park is completed, officials say China Merchants will invest half a billion dollars. The construction of 100,000 square meters buildings is the biggest project in the area. So, what were their reasons for starting business here?

 

HUANG ZHIHUA HEAD OF CHINA MERCHANTS-GREAT STONE Belarus authorities gave us strong support, and there were two presidential decrees regulating construction and work of this industrial park. That created a very good tax climate. Tax breaks were given for the construction machines and building materials. Our workers can easily get working permits here and that's also a huge support for us.

 

Other projects at Great Stone are in full swing, showing investor confidence in the industrial park's future. Aljosa Milenkovic, CGTN, Great Stone, Belarus.