New MoU’s Worth Over USD 5 Billion Signed between the Government of Gujarat and Major Chinese Companies

Share this News:

Beijing\New Delhi, October 21, 2016: The Indian delegation from Gujarat today concluded its four day official visit to China. The delegation led by Mr. Sanjay Prasad, IAS, Principal Secretary, Government of Gujarat, Agriculture and Cooperation Department visited Beijing, Shanghai, Guangzhou and Shenzhen, and had key meetings with the government officials, top officials of industry bodies and trade associations. More than 150 companies participated in Vibrant Gujarat Promotional Roadshows in Beijing, 120 companies in Shanghai, 90 companies in Guangzhou and 30 companies in Shenzhen.

40 Delegation members participated in Shanghai from Kunshan Chamber of Commerce. These MSME companies wanted to collaborate with Government of Gujarat and set up Chinese Industrial Park in Gujarat.

Approximately over USD 5 billon proposed investments initiated during the Vibrant Gujarat Delegation Visit in China.

During the visit high level meetings were conducted with Chief Advisor of Shenzhen Government, Delegation from the Liaoning Province of the People’s Republic of China and senior officials of the Shanghai Auto Industry Cooperation (SAIC).

The Government of Gujarat signed key Memorandum of Understandings (MoUs) and investment proposals were proposed with Liaoning Province of The People’s Republic of China, Dynagreen Environmental Protection Group Co. Ltd, JCHK Holding Co. Ltd., Chengdu Xingrong Group, Pacific Construction Group, ZTEsoft Technology Co. Ltd and Sinoma Taishan Fibreglass Inc.

More than 35 high level G2G and G2B meetings were conducted with government agencies and major companies of China. These MoUs when implemented will enhance the growth of various industries in Gujarat in sectors like textiles, solar energy, fiber glass, waste processing for renewable energy, automobiles, software technologies, manufacturing industrial parks and infrastructure projects which will create thousands of jobs in Gujarat which will contribute to the growth of the Indian economy.

As part of related activities, the delegation also visited Enterprise Dream Park at The Special Zone at      Qianhai Authority, Shenzhen which specializes in new start-up ventures and innovation technologies.

Speaking on the visit, the delegation leader, Mr. Sanjay Prasad, IAS, Principal Secretary, Government of Gujarat, Agriculture and Cooperation Department said, “Gujarat has emerged as a major investment hub not only in India but in the world. The time and environment is ideal for the Chinese companies to set up their businesses in Gujarat and cater to the growing Indian and world markets. Gujarat will not only act as an investment hub for Chinese companies to grow their businesses, but will also act as a gateway to access the whole world. These business initiatives will benefit the citizens of the two countries and will lead to economic development and enhanced industrialization in India as part of the ‘Make in India’ campaign announced by the Hon. Prime Minster Mr. Narendra Modi. China’s participation at the Vibrant Gujarat 2017 Summit will further strengthen the relationship which Gujarat shares with China. We see great opportunities to work together and the Vibrant Gujarat 2017 summit is the perfect platform to take the interaction forward.”

In the next couple of days, the delegation will travel to Hong Kong and will share information with Hong Kong officials and investors on some of the industry friendly policies, perfect economic ecosystem and single window clearance procedures that Gujarat offers, making it one of the most sought after investment destination globally. Gujarat was also ranked number 1 in ‘Ease of Doing Business’ in 2015 amongst all states of India in a joint study by the Government of India and World Bank.

About Vibrant Gujarat Global Summit:

The Vibrant Gujarat Global Summit, which started in 2003 to rekindle the pace of investments in the state, has since established itself as the most important business events in the country. Vibrant Gujarat Global Summit is an example of the visionary approach of the Government of Gujarat towards inclusive and sustainable development by ensuring policy coherence and effective investment promotion. Far from the regional investment fair that characterized the first Summit in 2003, the biennial Summit has today become a unique forum for ideation, knowledge sharing, networking, explore business opportunities, sign cooperation agreements and partnerships, while setting the policy agenda to meet some of the current national challenges.

Having successfully organized seven constructive summits, Government of Gujarat, as part of its journey towards sustainable long-term growth and inclusive development is organizing the 8th edition of the Vibrant Gujarat Global Summit from the 10th to 13th of January 2017 at Mahatma Mandir, Gandhinagar. The Summit will bring together Heads of States and Governments, Ministers, executives from the corporate world, senior policy makers, heads of international institutions and academia from around the world to further the cause of development and promote cooperation.