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Commentary to Decree No. 166 of 12 May 2017

On improving a special legal regime in the Chinese-Belarusian Industrial Park Great Stone

Belarus President Alexander Lukashenko signed Decree No. 166 on 12 May to provide the resident companies of the Chinese-Belarusian Industrial Park Great Stone with the best business regulations in comparison with other Belarusian and EAEU regulations.

 

The document envisages a “one-stop shop” principle for the park. Public authorities now should send employees to the park to carry out administrative procedures at park’s request. This means that from now on a requesting party will not have to waste time going to executive committees, ministries or other organizations.

The decree envisages the establishment of a free-trade zone in the park. The document envisages a mechanism to coordinate inspections of the park’s resident companies with the park’s administration.

The decree also expands the list of criteria for becoming a resident company of the Great Stone industrial park, increases the number of main areas of implementing investment projects, and reduces the minimum investment amount in case it is made at short notice.

© 2017, The Press Service of the President of the Republic of Belarus