Suzhou New District secures $1b in Japanese deals

Suzhou New District in Suzhou, Jiangsu province, secures a total of 10 projects worth $1 billion at an investment promotion activity held in Tokyo, the capital of Japan, on May 31. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District in Suzhou, Jiangsu province, secured a total of 10 projects worth $1 billion at an investment promotion activity held in Tokyo, the capital of Japan, on May 31.

The 10 projects involve high-end consumer goods, new energy and high-end equipment manufacturing.

Panasonic Corp has decided to locate its financial sharing center, electromechanical equipment R&D and sales headquarters in SND.

Nihon Dempa Kogyo Co and Nihon Kolmar Co will also set up a comprehensive headquarters and an R&D headquarters respectively in the district.

Meiji Dairies Corp, the largest dairy producer in Japan, plans to invest $1.5 million in expanding its existing factory in the district. Upon completion, the expected annual production of low temperature liquid milk and yogurt will hit 45,000 tons.

At the activity, SND head Wu Xinming said that since the Japanese-funded Nihon Dempa Kogyo Co first settled in the Suzhou district in 1993, SND has maintained a sound relationship with Japan. It is currently the area in the Yangtze River Delta region with the largest number of Japanese businesses.

Wu noted that SND established an investment promotion center in March staffed with personnel specializing in investment promotion for Japanese companies.

SND now houses 550 Japanese-funded companies with a total investment of $7 billion. Around 20 are Fortune 500 firms.

The district has built Japanese schools and introduced Japanese-funded banks, shopping malls and clinics to create a favorable business and living environment for its Japanese companies and residents.

Suzhou New District houses 550 Japanese-funded companies representing a total investment of $7 billion. Around 20 are Fortune 500 firms. [Photo/WeChat account: snd-szgxqfb]