Beilun District ranks No. in overseas investment

The No.2 main engine integration project of the Cilacap Power Plant of Indonesia, with the Huaye Power Engineering Co. Ltd. being responsible for its installation and maintenance, was launched in 2016. By then, the thermal power plants of the company had covered such countries as Vietnam, Bangladesh, Turkey and Egypt. The broad overseas markets have attracted more and more enterprises in Beilun District. It is learned from the Beilun Commission of Commerce that in 2016 the district maintained a rapid growth of outbound investments, with the actual investment volume of US$784 million, up by 324.1% over the previous year, with the total volume ranking No.1 in the city and the growth rate ranking No.4. The equity investment projects have dominated the overseas investments. In 2016, the enterprises in Beilun District carried out nine M&A equity investment projects, accounting for 39.13% of the newly approved projects, with an approved investment volume of US$364 million, accounting for 61.48% of the total. The investment scale has also been enlarged with the growth of the overseas merge and acquisition. Among the four major projects with an investment of over US$100 million, there were two overseas merge and acquisition projects. The acquisition of the BBHI Group, an Internet advertising supply platform company, with an acquisition volume of US$880 million by Ningbo NX Group, has become the largest overseas merge and acquisition project for enterprises in Beilun District so far. The enterprises in the district have also cooperated with the countries along the "one belt one road" area. In 2016, Yitai Holdings completed the aid project of "foreign languages teaching equipment for Uzbekistan", with a contractual volume of over 80 million yuan, becoming the largest ever overseas material aid project in Zhejiang Province. The district achieved a total overseas project cooperation construction volume of US$100 million in the "one belt one road" countries, including such projects as the factories in Vietnam, the land reclamation project in Malaysia and the power plant project in Indonesia. The investment plan along the "one belt one road" area has become clear with the establishment of the investment network based on the textile and clothes project in Southeast Asia area, the mechanical and electronic products in Mid-Asia and dialy necessities in Africa. The distribution of the investment has also been made for the capital investment section, the fashion manufacturing section in Southeast Asia, and the R&D design section and auto manufacturing section in Mid and North Europe. "With the development of the one belt one road strategy, the projects can be in different fields with different forms of cooperation and various cooperation ideas. However, the final aim is to realize the win-win result under the background of the one belt one road initiative." said a person in charge from Beilun Commission of Commerce. To solve the worries of the enterprises in their overseas investment, the commission has been optimizing the related services. Since 2016, it has implemented the "regulating mechanism" for the major projects, including the regulation of the information liaison, promotion commissioner, and approval procedure and time, to accelerate the implementation of the overseas investment projects. It has also strengthened its contact with their counterparts in the target countries in carrying out the safe production inspection over the overseas projects for the sake of the enterprises. Beidlun District has also launched some supporting policies for the enterprises involved in overseas investment. The approved overseas investment and contracted overseas projects can get government subsidies at different levels. Banks and insurance companies related will provide the long-term preferential loans and specialized overseas insurance for the enterprises to reduce the risks of overseas investment. Statistics show that in 2016 the 11 projects in the district received supporting funds of 33949 million yuan with the policy.

LINK:	http://en.nbwh.gov.cn/art/2017/2/7/art_1325_92820.html...
	See more stories from ningbo

Most recent headlines