Investing In Haicang, Xiamen: A Foreign Enterprise Growth

KUALA LUMPUR, Sept 13 (Bernama) -- Foreign company Lifetime (Xiamen) Plastic Products Co Ltd (Lifetime), recently announced it will increase its annual capacity by 6.5 million pieces of multifunctional leisure products made with high-tech materials in Haicang District, Xiamen.

According to a statement, a decision was made by its American headquarter after observing steady growth in this promising land over the past few years.

The construction of this new project will kick off soon, with operations expected to begin by the end of next year. It is estimated that the annual industrial output will increase by 1.3 billion Chinese yuan, the annual tax revenue will rise by 15 million Chinese yuan, and 200 jobs will be created. (100 Chinese yuan = RM60.67)

Based on Lifetime's perspective, Haicang is a great place to do business because of its unparalleled location, extensive transportation network, pleasant environment, well-established facilities, and a strong foundation for industries, among others.

In fact, the local government has been fostering a full-lifecycle, closed-loop mechanism that is underpinned by eight offices such as business promotion, early-stage support, key projects, land acquisition, accountability inspection, industry, land planning, and service.

The district secured 73 major projects in the first half of 2024, bringing the total investment close to 45 billion Chinese yuan, and the goal of a five per cent growth in Gross Domestic Product (GDP) was met.

-- BERNAMA