New China-Belarus industrial park
05 Jun 2012
On 5 June 2012, the President of Belarus signed Decree No.253 “On China-Belarus industrial park”. The document establishes a special economic zone in the Minsk region for a period of 50 years with a view to developing priority industries such as electronics, biomedicine, chemical industry and mechanical engineering. The park will be developed and managed by a specially created company in which the Chinese party owns 60 percent and the Belarusian party owns 40 percent of the shares. The highest governing body of the park will be an interGovernmental China-Belarus coordination council. There are no limitations on the nationality of investors who wish to establish companies in the park. Residents of the industrial park will be exempt for 10 years from the date of their registration in the park from the corporate profit tax; the real estate tax; and the land tax. For the following 10 years, industrial-park residents will pay the said taxes at a preferential rate equal to the half of the normally applicable rate.
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Type:
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Promotion and facilitation (Special economic zones)
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Industry:
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Manufacturing (Manufacture of chemicals and chemical products, Manufacture of basic pharmaceutical products and pharmaceutical preparations, Manufacture of computer, electronic and optical products, and electrical equipment, Manufacture of machinery and equipment n.e.c.)
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