Liaoning praised for its business investment environment
Ahn Tae Min, the chairman of CJ (Shenyang) Biotech Co, a subsidiary of South Korean conglomerate CJ Group, recently expressed confidence in the advantageous investment climate of the city, and Liaoning province generally, pointing to the company's rapid growth there in recent years. He also reiterated his strong belief in the greater Chinese market.
CJ Group, a Fortune 500 company, was founded in 1953 as a globalized lifestyle and culture enterprise. Its subsidiary in China, CJ (Shenyang) Biotech, produces a line of food and feed additives through a fermentation process, starting with corn as raw material.
The Chinese branch was established in 2011 with an initial investment of 3 billion yuan ($414 million) and has become one of the largest overseas investment projects of the CJ Group.
"Liaoning has exceptional geographic advantages and plentiful grain resources. The business environment is supported by strong industrial foundations and diverse industrial sectors," Ahn said.
"Moreover, it possesses abundant scientific and educational resources, including prestigious universities, research institutions and a skilled workforce. These advantages serve as strong motivation and instill confidence in enterprises to achieve high-quality development."
China's rapidly growing food market offers significant opportunities for CJ Group, enabling it to achieve significant success in food and a number of other sectors, he said.
The importance of the Chinese market to the global strategy of multinational companies is reflected in the commitment of CJ Group, he added. Moreover, China's key position in global innovation and the promotion of new technology aligns with the goals of multinationals.
In recent years, Liaoning province has been actively committed to improving its openness, aiming to make itself a high-quality node of the Belt and Road Initiative and a strategic pivot for the country's opening-up to the east and north.
The implementation of a series of open-door policies has brought more opportunities and confidence to foreign enterprises, making Liaoning a popular region for foreign investment. Numerous major foreign investment projects have settled there, including SK Group of South Korea, French tire company Michelin and BMW Brilliance Automotive, a joint venture of BMW Group and Brilliance China Automotive Holdings.
Wu Jun, Party secretary of Shenbei New District in Shenyang, said that the participation of prominent agricultural enterprises such as Wellhope has stimulated investment and progress in the agricultural industry.
"In addition, we have devised a set of strategies to attract investment and set up a platform for enterprise innovation and technological advancement, utilizing top-notch resources from institutions such as Shenyang Agricultural University to promote high-quality growth," Wu said.
CJ Group's decision to set up a base in China, and Liaoning in particular, was based on the province's excellent investment environment, the attractiveness of its open-door policy and the key role that China is playing in the global innovation and technology revolution. Together, these factors drive CJ Group's favorable view of the Chinese market and its willingness to work hand in hand with China, the company said.
Zhang Huirong, general manager of the milk powder division of Liaoning Yuexiu Huishan Holding Co, also in the food business, said, "The development of the dairy industry needs to scale up, and that requires good mountains, good water and fertile land. Therefore, we are deeply plowing Shenyang and striving to make the dairy industry bigger and stronger."
Ahn said: "CJ will continue to combine our unique strengths with Liaoning's geographical advantages to support the province's high-quality development and achieve high quality in our company as well. Additionally, we will actively encourage Korean entrepreneurs to focus on Liaoning and invest in the region, taking advantage of opportunities for new areas of growth."
Ye Xinnan contributed to the story.
