City urges companies to expand globally

Companies in Zhanjiang have been urged to "expand their presences in the global market" and strengthen Sino-foreign cooperation as the country pushes forward with its Belt and Road Initiative.

Zhuang Xiaodong, deputy mayor of Zhanjiang, said the city government encourages local companies, particularly private firms, to increase their international investments and trade.

"They should spare no effort to expand their presences in the world market," Zhuang told a recent news conference in the port city. "After years of economic development and opening up, Zhanjiang companies have the advantages to go international."

Zhanjiang is a major foreign trade port in South China and one of the starting points of the ancient Maritime Silk Road.

He said Zhanjiang companies are targeting markets in North America, Europe and Southeast Asia in addition to the nations and regions along the ancient Maritime Silk Road.

He added that many Zhanjiang companies have made progress in investing abroad and increasing foreign trade in previous years.

On April 19, the largest sugar production facility in Asia officially began operations in Cambodia. Covering an area of 120 square kilometers, the sugar production facility from Guangdong Hengfu Group Sugar Industry Co, a major sugar manufacturer in Zhanjiang, has thus far cost more than $500 million. The facility will be able to produce more than 360,000 metric tons of sugar a year.

The sugar producer plans to invest more than $1 billion to construct a 180,000-hectare agricultural development zone in Cambodia that aims to annually produce more than 1.08 million tons of sugar.

The Evergreen Group plans to build an industrial development zone in Egypt to increase its presence in the world market. The company, one of the major aquatic product companies in Zhanjiang, has made large investments in Vietnam in recent years.

zhengcaixiong@chinadaily.com.cn

(China Daily 06/21/2016 page15)