East China’s Jiangsu province has actively optimized the layout of overseas cooperation, continued to strengthen services for companies that have made overseas presence so that the province’s overseas investment and cooperation has witnessed growth momentum against the spread of the COVID-19 pandemic and its impact on international trade.
Jiangsu Hodo Group has reported booming business in the Sihanoukville Special Economic Zone in Cambodia, an industrial park invested, constructed and managed by Hodo on its own.
The special zone has introduced 166 enterprises and created nearly 30,000 jobs for the Cambodians. The zone administration will continue to speed up the construction of infrastructure facilities, power systems, staff housing, and urban commerce in a bid to optimize the production and operation environment.
The latest data shows that from January to February, enterprises in the Sihanoukville Special Economic Zone reported a total import and export volume of US$306 million, a year-on-year increase of 30.21%.
Chen Jiangang, Chairman of Sihanoukville Special Economic Zone Co., Ltd.
Spearheaded by Sihanoukville Special Economic Zone, with the support of policies such as epidemic prevention and control and financial relief, overseas industrial parks invested by Jiangsu-based companies have reported stable growth.
The commerce department will further promote the implementation of the "Three-year Action Plan for the Innovative Development of Jiangsu Overseas Economic and Trade Cooperation Zones (2021-2023)".
Jiangsu will also promote comprehensive financial services and RMB internationalization pilots, provide overseas investment enterprises with comprehensive services such as policy consultation, financing insurance, personnel training, and risk prevention, and promote the innovation and development of overseas investment, and the transformation and upgrading of overseas contracted projects.
At present, Jiangsu reports nearly 8,000 overseas investment projects with its overseas contracted projects ranking foremost in China, totaling approximately US$80 billion.
(Source:ourjiangsu.com)
