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Print out date: 20.04.2018 02:10
19.04.2017 14:48 Economy, Belarus — EU

Deputy Foreign Minister Shastakow invites Czech businesses to invest in Chinese-Belarusian Industrial Park, High-Tech Park

By Maryna Nosava, BelaPAN
Minsk, 19 April. Belarusian Deputy Foreign Minister Yawhen Shastakow, speaking at a Belarusian-Czech business forum in Minsk on April 19, invited Czech businesses to invest in the Vyaliki Kamen (Great Rock) Chinese-Belarusian Industrial Park and the High Technology Park.
Mr. Shastakow pointed out that the two parks grant favorable treatment to foreign investors. He said that although the Vyaliki Kamen Industrial Park was a Chinese-Belarusian project, it was open to Czech investors. He mentioned, in particular, investment in machine-building, electronics, high technologies, biotechnologies, green technologies, and the manufacture of products and the provision of services that are in high demand in Belarus, the Eurasian Economic Union and the European Union.
According to Mr. Shastakow, Czech small and medium-sized businesses could probably be interested in doing business in small and medium-sized cities in Belarus because they offer certain tax exemptions too.
He pointed out that resident companies in the High Technology Park (HTP) were exempted from profit tax and value-added tax on their goods and services, customs duties and VAT on equipment that they bring into Belarus for the purpose of manufacturing their products and providing their services, mandatory sales of foreign currency, land tax for up to three years, and property tax.
In addition, the rate of income tax for employees of HTP resident companies is only nine percent, and HTP resident companies can be located in any place in Belarus, Mr. Shastakow noted.
He said that last year the Czech Republic’s investment in Belarus rose by two percent to total $47.2 million, with direct investment amounting to $31.6 million, a 20-percent increase.




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