Chongqing- “The advantages to investing in Chongqing are clear and useful, and Chongqing will be more competitive in 2020”, said Mr. Paolo Bazzoni, Board Member & Chongqing Director of China-Italy Chamber of Commerce. When the 3rd session of the 5th Chongqing Municipal People’s Congress Chongqing is still ongoing, iChongqing conducts an exclusive interview with Paolo Bazzoni, for his insights of government report and new foreign law`s implementation.
Paolo Bazzoni, CCIC Board Member, Chongqing Director
Chongqing: No.1 Industrial Hub and Gate in SW China
On Mr. Bazzoni`s perspective, 2020 will be a very important and strategic year for Chongqing, because Chongqing could develop its growth in a more sustainable and technological way ever than before thanks to the actions put in place by Chongqing people`s government. Additionally, Chongqing is making great efforts in developing environment, transportation, smart industry, mechanics, global services, in addition to the logistic and communication way to better supporting the Belt & Road Initiative as an international hub in SW China.
Mr. Bazzoni also states that Chonqing is the number one industrial hub and gate in SW China. The infrastructure system has already well developed, though he suggested that it could be more upgrading as the government report mentioned, in a more effective and smart way, in order to better attract investments, not only from firms abroad but also, as company`s relocation destination, from the east side of China.
“The advantages to investing in Chongqing are clear and useful, and Chongqing will be more competitive in 2020”, Mr. Bazzoni said.
CCIC: Firm Cooperation with Liangjiang New Area
While answering the question relate to the business environment especially the foreign investment law has been renewed in 2019 and implemented since Jan. 1st 2020 with a more opening-up policy, Mr. Bazzoni said that thanks to the effective, competitive and successful partnerships with Liangjiang New Area (LJNA), CCIC supported and facilitated important new Italian investments in LJNA in 2018 and 2019. In 2019, CCIC grew up significantly in memberships, activities, and services for Italian and Chinese partners and friends in Chongqing and southwest. There is an outstanding example, CCIC has supported and contributed to Italian leading automotive component Sofima, an Ufi filters for its new plant in the Italy-Sino Park with a total investment of about 190 million yuan. 6 Italian and international companies settled with help from CCIC for bilateral investments established in LJNA. Furthermore, there are over 90 Italian companies supported by CCIC visited LJNA and started initial contacts with Chinese counterparts for business opportunities.
CCIC will continue to expand and support more Italian companies to approach Chongqing`s market scouting new investments as their mission, but also support Chinese companies to invest in Italy for potential new business innovation opportunities with Italian partners.
The newly updated foreign investment law will definitively contribute in the future to have a more simplified framework for Joint Venture (JV) companies, simplifying the legislation regarding corporate governance, allowing foreign investors to establish Foreign Investment Enterprises not only with Chinese enterprises but also with Individual Chinese investors.
Moreover, CCIC with the great support from LJNA and Italian General consulate, will work hard to continue in achieving more concrete results supporting Italian companies and Chinese partners for new business opportunities in 2020.