Nantong development area expects more gains in investment

The mass groundbreaking ceremony for 22 major projects – with total investment of 30.5 billion yuan ($4.83 billion) – took place on Feb 8 in the Nantong Economic & Technological Development Area, or NETDA – located in Nantong city in East China's Jiangsu province.

Zhang Jianhua, secretary of the Party working committee of the NETDA, told the ceremony that the start of the projects would boost the area's overall investments and bring in more capital throughout the year.

Looking back at the results the NETDA achieved in 2021, the actual utilization of foreign investment came in at $630 million, up 11.5 percent year-on-year, ranking it first in all the areas and regions administered by the city.

There were 34 major projects with investment of over 1 billion yuan each signed last year, with the total investment hitting 78.45 billion yuan.

According to Zhang, the NETDA is striving to make even more gains in attracting investment in the current year.

Some 27 projects, each with an investment of over 1 billion yuan – including two projects worth 10 billion yuan – are expected to land in the NETDA in 2022.