Source: Yiwu sourcing agent Author: Gary Date: 2010-09-29
This year local enterprises pay much attention to overseas investment, until now there are 12 programs got the permission. Yesterday, reporters informed from the authority of the Foreign Economic Co-operation and Trade Bureau in 365 service center that the mentioned 12 projects reached a total 19,560,000 US dollars, with Chinese investment of 16,320,000 US dollars, increased by 100% compared to last year. Besides, there are two overseas investment projects under accreditation.
Among the 12 projects, the largest is the clothes factory in the Republic of Belarus
invested by Zhejiang Jinxiu Dress Ltd with 9,880,000 US dollars. It is the only one manufacture project overseas in Yiwu. Other projects are mainly trade companies and overseas offices.
Principal Zhujun said that according to the invest place, Dubai is the center of the hot choices. Such as Zhejiang Love Woolen Co., Ltd, Zhejiang space pen-making Co., Ltd, and Yiwu Fangyuan Hosiery Co., Ltd chose Dubai to invest for around 980,000 US dollars for each. Some enterprises choose some places in The Unite Arab Emirates.
It is reported that last year, impacted by 2008 global finical crisis, most enterprise had the idea but actions. And the new “Procedures for the Administration of the Foreign Exchange Involved in Investment Abroad” short name for “Procedures”, and some related process are not acted, so most investors kept wait and see.
In fact, Yiwu China had stopped the permission in last half year and restarted again when “Procedures” took actions in the next half of 2009.
Some expertise considered that the reasons for the hot overseas investment are on one side, the recovery of global economy make them feel confident; on the other side, the same products has much intense competition, investors needed to go out and find more chances and ways.
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