Rudong leads in cooperation with B&R countries
Rudong county, Nantong, a city in Jiangsu province, has ranked first in the province in terms of investment in foreign countries for several years.
To date, a total of 20 enterprises in Rudong county have established plants and trading companies in countries and regions involved in the Belt and Road Initiative. Forty-six projects from the county with more than $320 million in investment have been signed.
From January to September, Rudong completed seven foreign investment projects and invested $61.94 million overseas, a year-on-year increase of 95.5 percent.
Rudong is now looking to establish an overseas trade processing center focused on traditional competitive industries, including the optical cables, textiles and garments, chemicals, and building materials industries.
The sales revenue of Vietnam Dadong Co, which was established by Nantong Dadong Co with an investment of over $40 million, reached 225 million yuan ($31.73 million) during the first nine months of this year.
The plant of Jiangsu Century Liaoyuan Knitted Wear Co in Yangon, Myanmar has become the largest knitting plant there and provided more than 3,000 job opportunities for locals. The company also maintains close cooperation with H&M, Adidas, and Muji.
ZTT Group, a market leader in optical fiber and cables, has cooperated with 59 of the 65 countries involved in the Belt and Road. The group has developed a worldwide sales network, and its optical fiber composite overhead ground wires have been the best-selling in the world for several years.
The government has implemented several policies to promote foreign operations and investment abroad. Rudong will continue working to improve its information service platform for investments in foreign countries.