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Isle of Man expects high of investment from China
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With a robust 2016 in attracting foreign direct investment to support its economic growth, the Isle of Man is expected to facilitate the burgeoning outbound investment from China in 2017.
“Compared with other offshore centers, we are a location for international companies to set up to conduct real business and employ people,” said Steven Beevers, Head of Special Projects of the Department of Economic Development.
What’s more, the Isle of Man can also provide international companies with a gateway to the European markets in a tax neutral environment.
Laurence Skelly, Minister for the Isle of Man’s Department of Economic Development, said the Island has entered 2017 with newly defined foreign direct investment and a brand new strategy providing a clear picture of how to develop FDI for the Island and how better to support local industry.
The island has shown increasing interest in investment from China, where overseas direct investment in the first 11 months of 2016 stood at $161.7 billion. That growth rate is three times higher than for the same period the year before.
In 2016, the Isle of Man signed MOUs with Beijing and Shanghai to encourage Chinese companies, especially in the high-tech sector, to establish and develop business on the Island for Western markets.
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