Benelux Chamber visits UN Office in Chengdu
On September 22, the representatives from the Chamber visited the regional UNIDO office in Chengdu to discuss the development and business opportunities for west China and the Benelux.
The office is located in Chengdu’s Hi-tech Industrial Development Zone (CDHT) in the Business & Innovation Centre for China-Europe Cooperation (CCEC), which serves as the regional hub for innovation and cooperation between the two regions. At present, CCEC has attracted more than 10 international institutions to settle in, such as the Sustainable Development Innovation Demonstration Project of the United Nations Development Programme (UNDP). This makes it an attractive location for synergies and innovation flows between European and Chinese companies.
The United Nations Industrial Development Organization (UNIDO) is a specialized UN agency established in 1966. It concentrates on facilitating sustainable industrial development in developing nations. UNIDO offers technical assistance, policy guidance, and capacity-building to promote economic growth and employment opportunities while focusing on environmentally sustainable practices. Collaborating with governments, industries, and other UN bodies, UNIDO strives to advance the Sustainable Development Goals and alleviate poverty globally.
Currently, UNIDO in Chengdu focuses primarily on attracting investments and technology. In 1986, UNIDO pioneered Investment Promotion Services, which later evolved into the global Network of Investment and Technology Promotion Offices (ITPOs). There are currently nine active ITPOs worldwide, including ITPO Bahrain, ITPO China (Beijing and Shanghai), ITPO Germany (Bonn), ITPO Italy, ITPO Japan, ITPO Nigeria, ITPO Republic of Korea, and ITPO Russian Federation.
Today, the Investment and Technology Promotion Network (ITP Network) comprises these nine ITPOs, overseen by the ITP Network Secretariat at UNIDO Headquarters. This geographically diverse setup facilitates connections between investors and technology providers, offering valuable services to entrepreneurs and business organizations. The ITP Network Secretariat ensures effective networking, information exchange, and knowledge sharing among the ITPOs.
The Chengdu office which is closely connected to ITPO in Beijing and Shanghai focuses on enhancing business and attracting investment in the west of China. They do this by matchmaking companies and organizations, organizing events, enhancing strategic partnerships and working together with think tanks and local institutions.
Chengdu, The Capital of West China
Chengdu, located in the west of Sichuan, is the aviation, railway, and communication hub of western China. The region and city of Chengdu offer various Foreign Direct Investment (FDI) opportunities due to its strategic position as a major economic and transportation hub. Five key sectors with investment potential in Chengdu include High-Tech and IT, Financial Services, Renewable Energy, Transportation and Logistics and Healthcare and Biotechnology. The cargo train “Yu-Xin-Ou” which is a freight rail route linking Chongqing/Chengdu with Duisburg in Germany and even further connections to the Benelux forms the foundation of facilitating more trade and connectivity between the west of China and the Benelux. Large Fortune 500 companies, such as Apple, Foxconn, HP, etc, use this route and take Chengdu-produced goods to Europe in about 13 days, offered at competitive prices.
The visit to UNIDO has demonstrated the abundant business opportunities in the west of China and creates a gateway to connect companies to new potential markets. Connecting with different regions in China fosters the opportunities between the Benelux and China and vice versa.