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Nantong taps markets in West Africa

en.nantong.gov.cn Updated: 2023-04-10

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Workers at the ARISE Integrated Industrial Platforms. [Photo/ARISE IIP]

Nantong in East China's Jiangsu province has been encouraging local businesses to expand their presence in West Africa, according to a meeting held on April 7.

Local authorities introduced the investment markets and relevant policies in West Africa at the meeting.

Participating businesses agreed that West Africa is developing rapidly and its 16 countries are blessed with various natural resources. They all expect to find investment opportunities in home textiles, apparel, and building materials in these countries.

Nantong's trade with West Africa has a long history. More than 60,000 Nantong natives have started businesses in the region, accounting for over 80 percent of Jiangsu's total.

As of March this year, Nantong enterprises have built 51 projects in West Africa with contracted investment from China valued at $470 million.

Last year, the Nantong International Economic and Technical Cooperation Association inked a strategic cooperation agreement with ARISE Integrated Industrial Platforms, a pan-African infrastructure developer and operator, to help Nantong enterprises seek business opportunities in West Africa by making full use of local platforms.