Belarus, China to set up joint venture fund

Belarus and China plan to set up a joint venture fund, the press service of the State Science and Technology Committee of Belarus told BelTA.

The Committee’s Chairman Alexander Shumilin and Ambassador of China to Belarus Cui Qiming have discussed ways to step up scientific, technical, and innovative cooperation as well as prospects of setting up Belarusian-Chinese venture fund. The Chinese-Belarusian Industrial Park, which is being built with assistance of private companies, may be one of the possible locations for the fund to reside.

“Every year three to five world-level innovations are developed in Belarus. The creation of the joint venture fund will allow financing Belarusian-Chinese venture and innovation projects that envisage the establishment of high-tech manufacturing,” said Alexander Shumilin. He also said that Belarusian-Chinese cooperation develops very actively and dynamically. The relevant intergovernmental agreement is implemented in full measure as well as a memorandum between the State Science and Technology Committee of Belarus and the Science and Technology Ministry of China, agreements with the Chinese provinces of Henan, Shandong, Jilin, and Guangdong.

In turn, Cui Qiming remarked that businesslike and mutually beneficial cooperation in science, technology and innovation efforts was an important factor for preserving and advancing friendly relations between both countries. In his words, the scientific potential of Belarus and China is rather high and allows working together and producing new results of scientific efforts.