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Monday, November 12, 2018

Belarus, China to set up joint venture fund

Belarus and China plan to set up a joint venture fund that may be based at the Chinese-Belarusian Industrial Park.

Chairman of the State Science and Technology Committee Alexander Shumlin and Chinese Ambassador to Belarus Cui Qiming have discussed the venture fund as well as other ways to step up scientific, technical and innovative cooperation.

"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," Shumilin said

Shumilin said that there is an intergovernmental agreement as well as a memorandum between the State Science and Technology Committee of Belarus and the Science and Technology Ministry of China and agreements with the Chinese provinces of Henan, Shandong, Jilin and Guangdong.

Qiming said that mutually beneficial cooperation in science, technology and innovation efforts was an important factor for fostering friendly relations between the two countries.