Trade event set for deal boon
Source: Xinhua |
August 18, 2010, Wednesday
|
Print Edition
Print Edition
COMPANIES from the Chinese mainland manufacturing hub of Guangdong Province signed deals worth US$2.99 billion with Taiwanese counterparts in Taipei yesterday at the start of the Taiwan-Guangdong Week trade event.
The 31 deals involve Guangdong firms buying electronic products, raw industrial materials and farm produce from Taiwan and investing in battery- and electronic device-producing projects on the island.
The two sides are expected to reach deals worth US$6.66 billion during the week, said Liang Yaoguang, head of Guangdong's Foreign Trade and Economic Cooperation Department, at the opening ceremony of the trade event.
The province will buy Taiwanese products worth US$6.66 billion and invest US$40.86 million in three projects in Taiwan, he added.
Many Guangdong companies are interested in investing in Taiwan, Cai Yunge, deputy director of the province's Development and Reform Commission, told Xinhua.
"We hope the investment contracts reached during the week will set an example for other companies," he said.
The 1,000-plus strong Guangdong delegation led by Governor Huang Huahua arrived in Taipei on Monday. Among them, there were 160 entrepreneurs from about 90 firms.
What attracts Guandong investors to Taiwan are the island's geographic location, similar language and culture, well-educated people and local partners who have the latest technologies and good management practices, Cai said.
However, since Taiwan authorities only lifted the ban on mainland investors about a year ago, mainland firms still have some concerns.
"They are not very informed about the investment environment in Taiwan and worry about how long it will take to get their investment plans approved by Taiwan authorities," Cai said. "That's why we organized such a big delegation to Taiwan."
In addition, mainland investors also expected Taiwan to open more industries and simplify the procedure for the mainlanders to get travel permits, he said.
Guangdong hopes to seize the business opportunities presented by the Economic Cooperation Framework Agreement signed in late June, Huang said.
The 31 deals involve Guangdong firms buying electronic products, raw industrial materials and farm produce from Taiwan and investing in battery- and electronic device-producing projects on the island.
The two sides are expected to reach deals worth US$6.66 billion during the week, said Liang Yaoguang, head of Guangdong's Foreign Trade and Economic Cooperation Department, at the opening ceremony of the trade event.
The province will buy Taiwanese products worth US$6.66 billion and invest US$40.86 million in three projects in Taiwan, he added.
Many Guangdong companies are interested in investing in Taiwan, Cai Yunge, deputy director of the province's Development and Reform Commission, told Xinhua.
"We hope the investment contracts reached during the week will set an example for other companies," he said.
The 1,000-plus strong Guangdong delegation led by Governor Huang Huahua arrived in Taipei on Monday. Among them, there were 160 entrepreneurs from about 90 firms.
What attracts Guandong investors to Taiwan are the island's geographic location, similar language and culture, well-educated people and local partners who have the latest technologies and good management practices, Cai said.
However, since Taiwan authorities only lifted the ban on mainland investors about a year ago, mainland firms still have some concerns.
"They are not very informed about the investment environment in Taiwan and worry about how long it will take to get their investment plans approved by Taiwan authorities," Cai said. "That's why we organized such a big delegation to Taiwan."
In addition, mainland investors also expected Taiwan to open more industries and simplify the procedure for the mainlanders to get travel permits, he said.
Guangdong hopes to seize the business opportunities presented by the Economic Cooperation Framework Agreement signed in late June, Huang said.
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