Tibet Seeks More Foreign Investment to Develop its Economy

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Last updated at: (Beijing Time) Monday, June 23, 2003

Tibet Seeks More Foreign Investment to Develop its Economy

Southwest China's Tibet Autonomous Region plans to attract more foreign investment to its tourism and mining industries this year.

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Southwest China's Tibet Autonomous Region plans to attract more foreign investment to its tourism and mining industries this year.

Dawa Cering, a senior official of the region's Foreign Trade and Economic Cooperation Department, said the regional government had to date approved 140 foreign-funded businesses involving 169.5 million US dollars, mostly in tourism, food-processing and mining.

Tibet was planning to expand its tourism cooperation with countries like Japan, the Republic of Korea (ROK) and Nepal as well as countries in Europe and America to further develop its abundant tourism resources, he said.

In addition, Tibet had a huge potential in proven mineral deposits, which were expected to be another attraction for foreign investors.

Poor infrastructure was believed to be the major barrier to foreign investment in Tibet. In recent years, the central government and Tibetan regional government had intensified the capital input into the transportation system and telecommunications projects.

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