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Chinese CITIC Group would like to invest in Belarusian Horizont
19 December 2008
The CITIC Group (China International Trust and Investment Corporation) is interested in financing the investment projects of the Horizont Company, BelTA learnt in the Belarusian company.The cooperation of both the sides was considered during a visit of the Chinese delegation to Minsk in December this year. Representatives of the CITIC Group got familiar with the activity and the development strategy of Horizont. They were informed about the network of retail and wholesale sales of the Belarusian company. The Chinese delegation also visited the joint venture of the Horizont Company and the Chinese Holding Midea Group which produces microwave ovens.
According to the Chinese businessmen, Belarus has set up favourable business conditions owing to the simplified customs and tax systems, the state guarantees for investments, the advantageous geographical position and highly-skilled personnel. The representatives of the CITIC Group expressed their readiness to set up a new chain store system to sell household appliances jointly with Horizont.
The both sides intend to discuss the terms of the joint Belarusian-Chinese projects in January 2009.
CITIC Group (China International Trust and Investment Corporation) is one of the largest state-owned companies of the People’s Republic of China. Its initial mission is to carry out financial, banking, securities and investment operations, contracts and construction of large industrial sites in China and overseas.
Founded on October 13, 1950, Horizont rolled out the first national TV set Belarus on December 31, 1954. Open joint-stock company Horizont was created in December 2002 through the conversion of production corporation Horizont. The company now includes four plants, which produce television electronics. At present, Horizont is the CIS largest producer of television electronics and household electronics. The company offers over 50 models of TV sets, radio equipment, satellite and cable television solutions. Horizont has 226 proprietary departments across Belarus as well as a proprietary shop Horizont.
BELTA