NANNING, China, Feb. 6, 2017 /PRNewswire/ -- Founded in March 2004 and located 30 km north of the city proper of Xingning District of Nanning, Guangxi-ASEAN Economic and Technological Development Zone (ETDZ) is an industrial hub in Guangxi Beibu Gulf Economic Rim. In March 2013 the ETDZ was registered with the State Council as a core national-level development zone representative of Nanning's industrialization and urbanization progress. As Nanning presses aggressively ahead with its industrial strategy as well as infrastructure improvement efforts, economies of agglomeration and low investment cost are beginning to pay off. So far, more than 270 well-known Chinese and foreign enterprises have deployed local offices, subsidiaries or manufactories in the ETDZ. In 2016, a new business model was introduced into the ETDZ. While strengthening the present place and influence of food processing, biopharmaceuticals and machinery manufacturing, the administrators have gone to great lengths to diversify into emerging sunrise industries by way of drawing more influential investors.
It is reported that the 27 new projects secured in 2016 consisted of RMB 5.6 billion in domestic investment, accounting for 103.70% of the year's goal, and USD 53.5 million in FDI, accounting for 100% of the year's goal.
Construction work for Nanning Scisky Science Park project, a RMB 6 billion investment secured in May 2016, commenced officially in December as a revolution in the environmental wood processing sector in Guangxi. The ETDZ's next plan is to step up efforts to draw more upstream and downstream manufacturers related to the Scisky project - automotive upholstery, flooring, furniture and custom home fittings - so that the industrial cluster can contribute positively to economies of scale and agglomeration of water-soluble high polymer material manufacturers.
According to a principal of the local investment promotion agency, in 2017, the AETDZ will be steadfast in its primary commitment to "draw larger and higher-quality investments" while expanding the existing chain of projects and targeting efforts precisely on key areas and industries. While intensifying the focus on the three dominant industries, the leadership pledges to make new progress by extending to modern agriculture, tourism and the service industry.
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SOURCE Guangxi-ASEAN Economic and Technological Development Zone (ETDZ)