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Schedule of procedures for Belarusian-Chinese investment projects specified

06 September 2010

MINSK (BelTA) – Dates for completing procedures, which are required for implementing current and future Belarusian-Chinese investment projects have been specified. The dates are laid down by Council of Ministers resolution No 1260 of 30 August 2010, representatives of the Council of Ministers Office told BelTA.

The new document has amended Council of Ministers resolution No 1053 “Organization of work for cooperation with the People’s Republic of China” of 14 July 2010.

Feasibility studies for current investment projects are supposed to be completed by 13 September 2010, with the aid of the Economy Ministry and the Finance Ministry and taking into account China’s current lending terms.

A Chinese general contract is supposed to be chosen and the relevant general contractor contract is supposed to be signed on 17 September. By this day the Economy Ministry and the Finance Ministry will have discussed business plans and will have prepared conclusions regarding investment projects. The Foreign Exchange and Credit Commission of the Council of Ministers is supposed to give the Belarusian government’s approval of the investment projects so that a request for credit resources would be sent to Chinese banks. The Finance Ministry is supposed to send the request to the Chinese banks on 24 September.

As far as promising investment projects with China are concerned, business plans for them should be ready by 15 October 2010. The tender to choose a Chinese general contractor will be held on 1 November 2010, with the relevant general contract to be signed on the same day. Dates for making decisions of the Foreign Exchange and Credit Commission of the Council of Ministers and for sending loan requests to Chinese banks have been specified, too.

BelTA reported earlier, in March 2010 Belarus and China signed a framework intergovernmental agreement on stepping up the bilateral trade and economic cooperation. The agreement’s addendum lists priority, current and future projects, 89 all in all.

The current projects include the establishment of an enterprise to manufacture cars together with Chinese producers, the construction of a multifunctional complex China Town in Minsk, the construction of the Pekin Hotel, the construction and reconstruction of several power engineering facilities.

Among the promising projects is the construction of an enterprise to make bleached sulfate cellulose, the construction of a trade and logistics center, the organization and retooling of several processing enterprises as well as agricultural, transport, wood processing and power engineering enterprises.