Sino-ASEAN economic park to be built

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Last updated at: (Beijing Time) Tuesday, December 02, 2003

Sino-ASEAN economic park to be built

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A China-ASEAN (Association of Southeast Asian Nations) economic park will be set up in this capital of southern Guangxi Zhuang Autonomous Region, on the site of the existing Overseas Chinese Investment Zone in the city.

An official from the regional government said that in addition to upgrading the Overseas Chinese Investment Zone, 46 km from downtown Nanning, they would also work out special policies to draw more entrepreneurs from ASEAN and domestic businessmen who export commodities to ASEAN to start businesses in the Sino-ASEAN economic park.

A Sino-ASEAN fair will be held in Nanning next year, according to the official.

The Overseas Chinese Investment Zone, covering 179 sq km, is situated in Wuming county of Nanning and was formerly the Wuming Overseas Chinese Farm. More than 7,300 overseas Chinese returned from Indonesia, Vietnam and other Southeast Asia nations have settled down in the zone, but they still retain folkways of ASEAN nations and have kept kindred relations with residents in 29 countries and regions.

There are 50 industrial businesses in the zone, including a dozen overseas financed ventures, which are engaged in such industries as sugar processing, cassava starch, toilet paper, galvanized iron plate, pharmaceutical, canned food and garment making.

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