Dubai:Hot Destination for Overseas Investment By Yiwu Enterprises

by | Oct 6, 2010 | Yiwu News | 0 comments

Dubai:Hot Destination for Overseas Investment By Yiwu Enterprises

It is known from the Administrative Examination and Approval Sector of Yiwu 365 Convenient Service Center Foreign Trade Bureau >>Browse China Yiwu International Trade City yesterday that the enthusiasm of local enterprises for overseas investment is much higher this year. At present, 12 foreign investment projects have been approved, with total investment of $ 19,560,000, of which Chinese investment amounts to $ 16,320,000, increased by nearly 100%. In addition, investment projects of another two companies are still under approval.

Among these projects, the largest is a clothing manufacturing plant in Belarus invested by Zhejiang Embroidered Garments Co., Ltd. with the Chinese investment amounting to $ 9,880,000. This is also the only manufacturing overseas investment project this year. Other investment projects are mainly trading companies and overseas offices.

“In terms of overseas investment destination, Dubai centered area is the most popular.” Principal of Administrative Examination and Approval Sector Zhu Jun said. For example, Zhejiang True Love Wool Co., Ltd. and Zhejiang Yuhang Pen Co., Ltd. etc. all chose Dubai as their investment destination. Some companies also aim to invest in the rest of the UAE.

Last year, affected by the aftermath of the 2008 global financial crisis, many enterprises had in mind the “going out” idea but they dare not take into action rashly. Moreover, the state adopted a new “Administrative Measures for Foreign Investment” (hereinafter referred to as the “Rules”). As the relevant processes have not been implemented, most investors adopted to wait and see.

According to the analysis of insiders, there are two reasons to explain local enterprises’ high enthusiasm for overseas investment: on the one hand, investors have become more confident with the recovery of global economy;on the other hand, the fierce competition of domestic homogenized products urges investment enterprises to take the initiative to “go out” and find more investment and trade channels.
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