The reporter recently learned from the member conference of the Association of Foreign Investment Enterprises in Yichang, Hubei that in recent years, chemical companies in the city have begun to focus their investment on foreign markets. Yihua Group has invested in the establishment of a wholly Chinese-owned enterprise in Vietnam. The project with a total investment of more than 120 million U.S. dollars has been approved by the Ministry of Commerce.
It is understood that the city's Renfu Pharmaceutical intends to invest and set up factories in Africa, and Black Whirlwind Engineering Machinery is preparing to set up factories in Europe. These projects are currently under negotiation. According to relevant officials of the Municipal Bureau of Commerce, overseas investment has become an effective way for chemical companies to explore the international market. The main reason why local companies in Yichang invest overseas is due to the fact that overseas cities are relatively rich in resources and have broad market prospects.
It is understood that the city's Renfu Pharmaceutical intends to invest and set up factories in Africa, and Black Whirlwind Engineering Machinery is preparing to set up factories in Europe. These projects are currently under negotiation. According to relevant officials of the Municipal Bureau of Commerce, overseas investment has become an effective way for chemical companies to explore the international market. The main reason why local companies in Yichang invest overseas is due to the fact that overseas cities are relatively rich in resources and have broad market prospects.
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