Belarusian Economic Research and Outreach Center

Belarus: Comparative Research on Industrial Parks and Special Economic Zones

Belarus has accumulated substancial experience in the design and implementation of economic incentives to promote business development, exports and foreign direct investment (FDI) inflows in the country. The creation of free economic zones (FEZs) and the High-Tech Park (HTP) were effective economic policy instruments in the late 1990s and 2000s.

The Great Stone Industrial Park (GSIP) is the latest example of the state’s economic policy to boost investments and exports, based on previous Belarusian experience and Chinese development experience on the Suzhou Industrial Park (SIP). It is also a new form of cooperation between the Belarusian and Chinese governments. The project is of high importance for both countries since it is part of the Belt and Road Initiative (BRI). 

The study focuses on three issues. First, the paper analyses the Belarusian experience in the creation of special economic zones. Second, we look at how the GSIP has been developing so far and what lessons have been learned from the past experience. Lastly, this paper makes policy recommendations on how to increase the efficiency of the Belarus-China cooperation under the GSIP project.