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Overseas investment flows in Foshan
12
Mar '08
Foshan the third largest city in Guangdong Province, is home to many large private enterprises. Many renowned enterprises like US based Invista are already started operating here while others are also planning to set up their plants.

Invista, the leading manufacturer of artificial fibers and polymers and owner of trademark Lycra, invested nearly US $128 million last year. Now, it plans for further expansion in Spandex factory by adding a capital of around $99 million.

Statistics show that, there are more than 7,000 foreign investors in the city, with their projects worth nearly $18 billion.

The total capital which flowed in Foshan was approximately $2.66 billion in 2007, an increase of 50 percent when compared to previous year.

The city is well equipped for manufacturing textile and garment products, fine chemicals and other items, which is an added advantage for companies. Popularity of Foshan among enterprises is mainly because of the well developed infrastructure, great potential market, availability of workforce and low cost of living, which increases profit margin of companies.

Foshan plans to continue its efforts of attracting a lot more foreign entrepreneurs for boosting its economy.

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Courtesy: BGMEA

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