Gansu signs $2.1b investment agreements on foreign cooperation

Lanzhou in Northwest China's Gansu province holds the signing ceremony on production capacity cooperation on May 21. [Photo/xinhuanet.com]

Companies from Northwest China's Gansu province signed agreements worth 13 billion yuan ($2.1 billion) on production capacity cooperation at a signing ceremony held in Lanzhou, Gansu province, on May 21. The agreements were made with several domestic and foreign companies.

At the signing ceremony, Gansu Baiyin Nonferrous Metals Co reached agreements with Kazakhmys PLC on a copper smelting project. Gansu Qilianshan Cement Group Co and Baye Construction Co decided to jointly invest in a cement production project in Kyrgyzstan, and German FRK Light Aircraft Manufacturing and Training Institutions chose to provide technology and training to a Gansu airport company.

Suiumb Aeva Paiza, vice-minister of the Kyrgyzstan Public Health Ministry delivers a speech at the signing ceremony on production capacity cooperation held in Lanzhou, Gansu province, on May 21. [Photo/xinhuanet.com]

Taking part in the ceremony were more than 600 people representing eight government agencies and 30 enterprises from 12 countries, including Kazakhstan, Turkmenistan and Iran. Ten overseas branches of Bank of China and some domestic companies and government departments also attended the activity.

Ouyang Jian, the provincial vice Party chief addressed the attendees at the ceremony. He said that the Belt and Road Initiative has provided great opportunities for Gansu. "The provincial government encourages local state-owned companies to 'go global' and seek cooperation with counties along the Silk Road Economic Belt and 21st Century Maritime Silk Road," he said.

Ouyang also advised that more cooperation be made among government, banks and enterprises to achieve a win-win situation.

Dawood Anbouthi, vice-chairman of the Kazakhstan-China Association of Friendship and Exchange introduces the Kazakhstan investment environment at the signing ceremony on production capacity cooperation held in Gansu.[Photo/xinhuanet.com]

Gao Yinxin, vice-president of the Bank of China responded to Ouyang's plea by saying that Bank of China will provide financial support to Gansu enterprises to help them enter international market.

The organizer of the event was the Gansu Provincial State-owned Assets Supervision and Administration Commission, who aims to create platforms for state-owned companies to work with their foreign counterparts. 

Edited by Jacob Hooson