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Wuxi investment sets sail for Southeast Asia
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Wuxi in East China's Jiangsu province, a key force on the Silk Road Economic Belt and Maritime Silk Road, is taking great advantage of investing in the global market thanks to the national Belt and Road Initiative.
The city held an investment promotion conference in Hong Kong on March 30, encouraging local enterprises to cooperate with Wuxi counterparts in overseas investment, especially at the Sihanoukville Special Economic Zone (SSEZ) in Cambodia.
"Wuxi has made multinational management a new highlight of its opening-up economy, with the number of investors, the scale of investment continuing to expand," said Wang Guozhong, director of publicity department of Wuxi.
At the meeting, Wang spoke of Wuxi's industrial advantages and achievements accomplished in the Belt and Road Initiative.
Henry Tang, chairman of Federation of HK Jiangsu Community Organizations, who has been engaged in the promotion of economic and cultural links between Hong Kong and Jiangsu province, said he expects cities in Jiangsu province to seek overseas development.
"Wuxi is my hometown, and I hope the city can take advantage of its industrial foundation to walk at the front line of the national Belt and Road Initiative," Tang said.
The SSEZ is an economic and trade cooperation zone that has seen the settlement of more than 100 global enterprises and helped 14,000 local people gain employment.
For years, many Wuxi-based enterprises have taken advantage of the opportunities presented at the SSEZ. With the region's low labor costs and trade advantages, these companies have not only experienced expansion and profit growth, but also created many job opportunities as well as contributing to the regional economy.