Concerted effort cultivates an ideal 鈥╡nvironment for foreign investment
Print Edition
Yangpu District saw a record-high actual utilization of foreign direct investment amounting to US$1.24 billion in 2023, marking a 13 percent increase from the previous year.
The district attributes the success to a comprehensive approach that includes targeted recruitment strategies, enhanced communication mechanisms and robust protection policies for foreign investments.
Creating a warm and welcoming environment for foreign enterprises is a top priority for Yangpu, the district government said.
鈥淢y company is based in Yangpu, and it feels like a window to the pulse of Shanghai鈥檚 development,鈥 said Gregory Cuny, president of Vitesco Technologies China.
Cuny said over the past decade, he has witnessed the rise of corporate headquarters along Dalian Road and the improvement of Yangpu鈥檚 business environment.
To accurately represent and address the needs of foreign companies, the Yangpu Foreign Enterprise Association serves as a bridge between the government and businesses.
In recent years, a coordination mechanism for foreign investment has been established, featuring a specialized team from multiple departments. This team addresses the concentrated needs of enterprises, providing consultation and tailored solutions in areas such as policy, law, finance, management, talent, and labor relations.
These efforts safeguard the legitimate rights and interests of foreign enterprises and their investors.
Henkel鈥檚 experience highlights the effectiveness of Yangpu鈥檚 collaborative approach.
When seeking a suitable location for its consumer goods research and development center, the company faced challenges related to space requirements and environmental assessments.
The local government intervened, coordinating efforts between the Bay Valley Science and Technology Park, property owners and Henkel to resolve these issues and facilitate the project鈥檚 launch.
Events such as the 鈥淕erman Enterprises Entering Yangpu Promotion Activity鈥 and 鈥淪ino-German Industry Matching Roundtable Conference鈥 have been instrumental in fostering international partnerships.
The Spanish skincare brand, Isdin, founded in 1975 and known for its expertise in photoprotection, has shown interest in deepening its ties with Yangpu. Juan Naya, the CEO of Isdin, expressed enthusiasm about the innovative atmosphere and potential for collaboration during a visit to the district.
鈥淲e are impressed by the rapid development of Shanghai and the vibrant entrepreneurial spirit in Yangpu,鈥 Naya said. 鈥淲e hope to strengthen our communication and explore more cooperation opportunities to bring more high-quality products to Chinese consumers.鈥
Yangpu is also expanding its presence on the global stage, particularly through engagements with countries along the Belt and Road Initiative.
The establishment of the Laos Economic and Trade Cooperation Expo hall in Yangpu last November represents the initial phase of the partnership.
It serves as a platform for facilitating trade between Yangpu and Laos, showcasing the district鈥檚 commitment to enhancing economic ties and improving market access for both regions.
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