SIP reported 117 new foreign-invested projects from January to June, with registered capital of US$ 2.051 billion (up 146.2% year-on-year), and US$ 1.28 billion of foreign investment in actual use during the period (up 197% YOY). Among the new projects, many were invested by investors already with at least one project in SIP.
Danaher Corporation, a US science and technology innovator which opened its first plant in SIP in 1997, signed an agreement with SIP Administrative Committee on July 22 to set up a new diagnostic platform development and manufacturing base in SIP to provide localized rapid diagnosis solutions. Besides, Swiss healthcare company Roche, American tech behemoth Microsoft and many other foreign-funded enterprises are all expanding their investment in the area.
The increasing foreign investment stems from the local authorities’ consistent efforts to improve the local business environment and business services.
Since early this year, when the coronavirus disease COVID-19 hit the country, SIP authorities have adopted a series of tax breaks and other preferential policies to help businesses in the area resume operations and overcome difficulties caused by the COVID-19 outbreak.
On the other hand, the local authorities have been improving their on- and off-line one-stop services and optimizing their service modes to facilitate business establishment and operation in the area. That has boosted foreign investors’ confidence in investment in SIP, too.