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China's investment boosts Belarus development
From:Belt and Road Portal  |  2017-08-15 10:54

Belarus has awarded 12 people its Industrialist Prize. Hu Zheng, CEO of China-Belarus Industrial Park Development Co. and a board member of China Merchants Group, is one of them.

This was in recognition of the important role of Chinese investment in the economic growth and employment market of Belarus.

The industrial park, with a planned area of more than 90 square kilometers, accounts for nearly one-third of the area of Minsk, the Belarus capital.

Belarusian experts say China's investment is of crucial importance in renovating the country's infrastructure construction and overall industrial upgrading. The Belt and Road Initiative brings opportunities to Belarus that should be grabbed to solve some of the bottlenecks hinderingeconomic restructuring.

Belarusian employees in the industrial park said that when they first arrived there, relatives and friends were doubtful of the future of the "barren" site. Now, many envy them their jobs.

Some Belarusian experts say China has the power and technology, but, more importantly, is willing to undertake the risks in order to promote investment cooperation with Belarus. And China's capital and its innovation model and values fit well with developing countries.

They believe Belarus can still explore its potential, for example, in improving its business environment and cultivating more talents fluent in Chinese so as to attract even more enterprises.

Belarus President Alexander Lukashenkou told the media last May that China is a friend in providing loan and advanced technology to the countries along the Belt and Road routes. China did not seek trade expansionism or impose its will upon others and that was rare in the world.

China's direct foreign investment last year hit $183 billion, making China the world's second-largest investor, according to the World Investment Report 2017 issued by the United Nations Conference on Trade and Development.

Last year, global foreign direct investment dropped two percent year-on-year. The fast growth of China's FDI, however, not only promotes Chinese products, equipment, technology and services in their "going out", helping in the restructuring of its economy, but also benefits the world, effectively boosting global economic growth.