It's Happening....
The first overseas chamber of commerce in Southeast Asia unveiled
- Details
- Category: Ningbo Business
- Published: Monday, 18 May 2015 15:39
On May 10th, Ningbo Chamber of Commerce in Cambodia was officially unveiled in the capital of Cambodia Phnom Penh, the first overseas commerce chamber in Southeast Asia. Ningbo Chamber of Commerce in Singapore is now under preparation. The latest news from the Municipal Commission of Commerce shows that enterprises from Ningbo has altogether invested 236 enterprises and branched in Southeast Asian countries. The approved investment amounted to $1.115 billion, including $0.508b actual foreign investment. Countries like Vietnam and Cambodia where the labor cost is very low have gradually become the first choice for Ningbo enterprises to transfer their industries. At the beginning of 2015, Chu Jiwang, CEO of Ningbo Ruyi visited Cambodia. When he returned to Ningbo, he immediately decided to set up Xilin Forklift Com. Ltd. in Cambodia in order to enter the market of Southeast Asian market. Since the start of the year, Ningbo Ci-xing has set up branches in Bangladesh, Cambodia and Vietnam. The branch in Cambodia was established by merging a local company, with a total investment of $5.4million, which mainly specializes in sale and rent of textile machines, and the design, manufacturing and sale of textile finished products
