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2020 Investment Cooperation Signed by Liangjiang New Area & CICC

By RUI HUICHONGQING|May 13,2020

Chongqing- On May 11th, 2020, under the joint witness of the Consulate General of Italy in Chongqing and of the Chongqing Liangjiang New Area Administrative Committee, the Liangjiang New Area Investment Invitation Group (LJNAIIG) together with the China-Italy Chamber of Commerce (CICC) held the signing ceremony of the 2020 Investment Cooperation Agreement. Mr. Wang Zhijie, Vice-Secretary of the Chongqing Liangjiang New Area Committee and Vice-Director of the Standing Committee of the Chongqing Liangjiang New Area Administrative Committee, Mr. Liu Feng, CEO of Liangjiang New Area Investment Invitation Group, Mr. Guido Bilancini, Consul General of Italy in Chongqing, and Mr. Paolo Bazzoni, CICC Chairman attended the signing ceremony.

conference before the signing ceremony

The main goals of the agreement signed by the two parties include: identifying industrial and commercial projects between Italian enterprises and Chongqing Liangjiang New Area, supporting Italian enterprises interested in investing in Chongqing Liangjiang New Area through analysis, sharing experiences on the investment environment of Liangjiang New Area, and getting more local government support. The agreement mainly involves the automotive, energy, environmental protection, machinery, electronics, logistics, aerospace, cloud computing, and e-commerce sectors”.

Mr. Guido Bilancini, Consul General of Italy in Chongqing

In March 2018, the CICC and Chongqing Liangjiang New Area reached the first investment cooperation agreement and established the Center for the Promotion of Bilateral Investments within the framework of this agreement. During the more than two years of cooperation, the CICC has been pursuing the strategy and business objectives through collaboration with Liangjiang New Area Free Trade Office and Liangjiang New Area Investment Invitation Group.

Since 2018, the CICC has introduced 125 Italian and international companies to the Liangjiang New Area. Their key sectors are automotive, machinery and equipment, energy and environmental protection, aerospace, high-end services, etc.

Five Italian and international companies are already established in the “Center for the Promotion of Bilateral Investments”.

In June 2019, the new Sofima Automotive Filters (Chongqing) Co., Ltd. plant was officially opened in the Chongqing China-Italy Industrial Park with a total investment of over 25 million Euros (about 190 million RMB). The total area exceeds 17,000 square meters, of which almost 14,000 square meters will be present for the production of high-tech filtration systems.

Mr. Paolo Bazzoni, CICC Chairman, made a speech at the conference: “The significant results achieved in the last two years are pushing the CICC to continue improving this successful partnership for more support the Italian companies, creating more opportunities in Chongqing and Chongqing-Chengdu economic circle.

Mr. Paolo Bazzoni, CICC Chairman

During the conference, Mr. Guido Bilancini, Consul General of Italy in Chongqing said: “I am honored to participate in the signing ceremony of the cooperation between the China-Italy Chamber of Commerce and the Liangjiang New Area Investment Invitation Group, especially in the recent months when we jointly responded to the world health emergency. In March 2018, the Liangjiang New Area Administrative Committee and the CICC Chongqing Office signed an agreement to establish the China-Italy Investment Promotion Center in Liangjiang New Area. The Center is operated by the CICC with the support of the Consulate General of Italy in Chongqing. It depends on the potential to strengthen the cooperation between the two sides, and it has done excellent work in achieving its results. The renewal period of the agreement is also a period of change for the board of the CICC. Finally, the Consulate General of Italy in Chongqing will support the activities of the Center.”

the signing ceremony

The signing of this agreement provides new opportunities for Italian enterprises interested in investing in Chongqing Liangjiang New Area. With the support of the CICC, all Italian enterprises will be provided with the leasing services of the preferential office buildings, factories, exhibition halls, and events, also to have access to the preferential policies in Chongqing Liangjiang New Area. A support platform, jointly created by the CICC and LJNAIIG, will contribute to the convenient conditions for assisting the Italian enterprises with investment in Chongqing, and the Italian enterprises that are expected to develop from Eastern China to the Southwestern provinces. At the same time, it will support the Chinese enterprises which are moving towards investment and development in Italy, and it will mark a new stage of bilateral investment collaboration between Italy and China.

For more information, please contact: infochongqing@cameraitacina.com

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