New prospects on the Silk Road

Belarus’ accession to the SCO enhances investor confidence — the Great Stone’s top manager has updated on the project’s development

Belarus’ involvement in the SCO, which has gathered major global players, opens up new avenues for developing trade and economic relationships and expanding investment potential. This is expected to have a positive impact on the operations of the Belarusian-Chinese Industrial Park since it can attract more investors to the country, particularly through this project. Kirill Koroteyev, First Deputy Director General of SZAO Industrial Park Development Company, has revealed what expectations the Great Stone has regarding Belarus’ participation in the SCO and how the project is developing today.  

Belarusian-Chinese Industrial Park Great Stone 

Paramount message to Great Stone residents

Kirill Koroteyev is convinced that Belarus’ accession to the SCO will instil even greater confidence in the Great Stone residents and investors regarding the development of projects on the Silk Road. This strategic move will also have a positive impact on the influx of new companies in the industrial park, “Confidence is of paramount importance in attracting investments in the current situation. Our country has joined a new union that comprises global players such as Russia, China, and India. From an investor’s perspective, Belarus has become more appealing in its new status, even despite potential sanctions-related risks. It is well known that investors today, especially foreign ones including those from China, are very careful about project implementation. This is reflected in the trends regarding the registration of new residents in the Great Stone — these are predominantly Belarusian and Russian companies. This is the objective reality. 

However, Belarus’ participation in the SCO demonstrates to potential investors that by joining the Great Stone, they gain the opportunity to interact with global players. This will undoubtedly attract new residents from a broader range of countries. Belarus’ role in the international arena has undeniably increased, which will significantly affect the Belarusian-Chinese Industrial Park and its participants.” 

The First Deputy Director General of Industrial Park Development Company also noted that Belarus’ accession to the SCO automatically connects it to various economic processes. This includes, for instance, harmonised logistics, streamlined transborder crossings, an agreement to increase settlements in national currencies and simplify settlement payments, as well as digitalisation and the prospective establishment of an SCO fund. “Consequently, investors in the Belarusian-Chinese Industrial Park can also gain tangible advantages from these processes as they create new opportunities, open up new markets, and provide new additional economic benefits,” Kirill Koroteyev clarified. 
Speaking about the forecasts for attracting residents, Kirill Koroteyev remarked that by the end of 2025, the number of new companies in the park was expected to amount to 170. In addition, over 5,000 jobs will be created, the actual total investments in the implementation of the Industrial Park projects are anticipated to reach $1 billion, while the annual export of goods and services by the park’s residents should hit $360 million. “The project’s implementation will also attract 270 residents by 2030, create 11,000 jobs, achieve $1.5 billion in investments, and generate $500 million in annual exports of goods and services,” he highlighted.

Belarusian-Chinese Industrial Park Great Stone Research&Development Centre     Aleksandr Kulevsky

Moving on to the second stage 

Overall, the construction of key infrastructure in the Great Stone continues today. The Industrial Park is actively expanding, materialising previously planned projects, and preparing to accept new companies into its ranks. Kirill Koroteyev emphasised that all interstate and internal procedures for the park’s engineering and transport infrastructure were at the final stage, “This year we will commence a large-scale construction for the second stage of the park’s development, covering just over 400 hectares. We are going to develop the continuation of Peking Avenue — the territory closer to the airport. There will also be a railway terminal, which is already under construction. I think we will launch active construction of the second stage in the coming months. Currently, we are finalising all documentation, and the contractor has been determined. The need for industrial rental infrastructure continues to grow. Ten production buildings have been erected in the park — that is approximately 90,000 square metres of space — which are now fully leased.” “It is worth noting that the main trend of last year — the demand for ready-made production areas — remains unchanged,” the top manager underscored. “This suggests that the market for medium-sized capital-intensive projects is currently actively developing. Indeed, there are objectively fewer large-scale production projects now compared to the pre-sanctions period. However, medium-sized businesses feel confident. Belarusian and Russian projects currently dominate this trend. Therefore, we will continue to construct similar multipurpose production facilities.”  
Kirill Koroteyev also unveiled that a one-storey building covering an area of 12,000 square metres for industrial production is expected to be commissioned by the end of autumn. “Nearly 80 percent of the space has already been leased. Demand in this segment of real estate outstrips supply. Simultaneously, we are designing another building with a larger area of 20,000 square metres, with construction set to begin at the start of next year,” he specified. Regarding other important infrastructure projects, Kirill Koroteyev noted that a new 150-room hotel was commissioned this year. It will start operating soon. Recruitment, training, and retrofitting of the room stock are currently underway. In addition, the Fakel (Torch) facility — a platform for research and technical co-operation, and innovative developments — has already begun its operation. “Earthworks are being completed as part of the construction of the Wildberries distribution centre. After that, the foundation will be laid and piles will be sunk. The work is going on vigorously. This site represents a vast logistics area equivalent to 38 football fields,” the interlocutor stressed.

Conquering Chinese marketplaces

The National Pavilion of Belarus — a Belarusian-Chinese e-commerce project — continues to thrive. At the moment, SZAO Industrial Park Development Company sells Belarusian products through a specially established entity, Hangzhou Jubaopen Technology Co., Ltd, as well as develops Belarus’ National Pavilion across 11 major trading platforms in China: JD.com, Douyin, Weibo, Xiaohongshu, Tmall, Bilibili, Kwai, China Merchants Property Operation & Service, Tencent, PinDuoDuo, Taobao.com. The total number of subscribers across all platforms exceeds 2.5 million. “The product range of Belarus’ National Pavilion is constantly expanding,” Kirill Koroteyev pointed out. “Currently, about 140 types of products are sold in such categories as fresh and powdered milk, chocolate, biscuits, linen products, crystal glasses, juices, alcoholic beverages. The share of direct purchases from Belarusian factories is steadily increasing, with new goods for the National Pavilion being purchased directly from manufacturers. Over 25 Belarusian factories are engaged in this process. Brand marketing is constantly being enhanced, and the pavilion’s own logo has been developed. Since the beginning of the pavilion’s operation, the total sales volume across all platforms has surpassed $8.27 million.” 

NUMBERS AND FACTS 

• Total number of orders on Doujin: 954,119.
• Total number of customers on Doujin: 685,063.
• Total number of orders on Doujin in 2024: 270,549.
• Total number of customers on Doujin in 2024: 178,054.
• Total sales across all platforms (13.06.2022—07.07.2024): more than $8.27 million.
• Total sales for the period of 01.01.2024—07.07.2024 across all platforms: more than $2.5 million.
• Total number of subscribers across all platforms: 2.618 million.

By IIya Kryzhevich