Businesses Seek Opportunities in Guangxi’s Fangchenggang to Expand ASEAN Market
Fangchenggang, Guangxi, August 29, 2024 – Businesses are increasingly looking to Guangxi’s Fangchenggang as a gateway to the Association of Southeast Asian Nations (ASEAN) market, seeking to capitalize on the region’s strategic location and burgeoning economic opportunities.
The Private Enterprises Enter the Frontier (Fangchenggang) IndustrialCooperation and Matching Conference, held in Fangchenggang on August 29, saw a flurry of activity as companies from across China, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, explored investment opportunities in the region.
Guangxi is China’s frontier and window for opening up and cooperating with ASEAN. As a traditional pharmaceutical company investing in Guangxi, we can leverage the opportunities presented by the Fangchenggang International Medical Open Experiment Zone to expand our businessto ASEAN countries, said Sun Xuewu, General Manager of Innovation Traditional Chinese Medicine (Guangdong) Group Co., Ltd.
Sun highlighted the company’s existing presence in Guangxi’s border cities, including Fangchenggang, where they are engaged in various activities, such as Chinese herbal medicine trading, traditional medicine, and cross-border pharmaceutical e-commerce. Leveraging the local port industry advantages, the company has established multiple import and export supply chains for Chinese herbal medicine.
Another company, Dongxing Yinlong Food Co., Ltd., is planning to establish a processing industry chain in Dongxing, Guangxi. Once operational,the company intends to export processed aquatic products, such as frozen fish and freeze-dried fish fillets, to South Korea. Recognizing the unique geographical advantage of Dongxing’s proximity to Vietnam’s Mong Cai, the company aims to extend its processing industry chain to Vietnam.
The conference witnessed the signing of 30industrial cooperation projects, with a total investment of 10.23 billion yuan (approximately $1.4 billion USD). These projects cover key industries such as trade processing, food and pharmaceuticals, and new energy.
Chen Guangjiong, member of the Standing Committee of the Fangchenggang Municipal Committee and DeputyMayor, expressed his enthusiasm for the collaboration, stating, Fangchenggang, with its coastal and border location, unique geographical position, convenient transportation, and superior port facilities, is eager to work with entrepreneurs to develop industries such as steel and new materials, new aluminum materials, chemical and new energy battery materials, grain andoil food processing, and medical pharmaceuticals.
The increasing interest in Fangchenggang reflects the growing importance of the ASEAN market for Chinese businesses. The region offers a vast and diverse consumer base, as well as opportunities for investment in various sectors. Fangchenggang’s strategic location, coupled with its infrastructure development and government support, makes it an attractive destination for companies seeking to expand their reach into ASEAN.
The conference serves as a testament to the growing economic ties between China and ASEAN. As businesses continue to explore opportunities in the region, Fangchenggang is poised to become a major hub for trade and investment, facilitating economic growth and prosperity forboth China and its ASEAN neighbors.
【source】http://www.chinanews.com/cj/2024/08-29/10276854.shtml
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