In 2021, Hunan Province's actual foreign investment was US$1.67 billion, up 12.1% year-on-year

Hunan Province's "going out" enterprises overseas double stability work summary and overseas business association docking exchange meeting was held in Changsha. Photo by Liu Man

Changsha, January 21 (Xinhua) -- On the 21st, a reporter learned from the summary of the overseas double stability work of Hunan Province's "going out" enterprises and the docking and exchange meeting of the Overseas Business Association that in 2021, the actual foreign investment of Hunan Province will be 1.67 billion US dollars, an increase of 12.1% year-on-year; the turnover of foreign contracted projects will be 2.76 billion US dollars, an increase of 22.5% year-on-year.

The east wing of the Cambodian Ministry of National Defense office building undertaken by China Railway Urban Construction Group was completed and handed over; the Sherchal Ring Expressway in Algeria was completed ahead of schedule; the Eighth Bureau of Hydropower undertook the construction of the Kedron gas circulation power station in Malaysia; Hunan Road Bridge undertook the Georgia E60 Expressway F2 project... In the past year, the overseas epidemic situation is still grim, and Hunan "going out" enterprises have faced difficulties and good audio has spread.

Ning Yanfang, deputy director of the Department of Housing and Urban-Rural Development of Hunan Province, introduced that in 2021, the total output value of Hunan's construction industry once again exceeded the trillion yuan mark, reaching 1,328.014 billion yuan, and the "Construction Xiangjun" went deep into the international market, explored business transformation, and enhanced its international business share, showing strong resilience and vitality in the face of the epidemic.

"Looking at the external contracting project market in the post-epidemic era, the development potential of infrastructure construction empowered by digitalization and information technology is huge." Ning Yanfang said that enterprises should give full play to the advantages of Hunan construction industry in prefabricated construction, BIM technology application, rail transit, hydropower, thermal power, engineering machinery, green environmental protection and construction waste utilization, etc., strengthen the information interconnection and efficient coordination of the entire construction industry chain, open up a green development artery, and promote China's equipment, technology, standards and services to "go global".

Major projects such as the Rajshahi Surface Water Treatment Plant in Bangladesh have been landed, projects such as the "Two Parks and One Road" in Laos and the Hunan Industrial Park in Nigeria have been steadily advanced, and the structure of Hunan's "going out" work has been further optimized and the benefits have been continuously enhanced.

Shen Yumou, director of the Department of Commerce of Hunan Province, hopes that the majority of "going out" entrepreneurs will take the initiative to serve the new development pattern, make good use of the two domestic and international markets and two kinds of resources, shape new advantages in participating in international cooperation and competition, and enhance the ability to allocate global resources; actively study and dock high-standard international economic and trade rules such as the "Regional Comprehensive Economic Partnership Agreement" (RCEP), expand the international market, enhance the autonomy and security of the industrial chain and supply chain; based on the reality of enterprises, accurately position, give play to advantages, and act according to their ability. While expanding foreign economic and trade cooperation, it is also necessary to prevent "internationalization for the sake of internationalization", earnestly do a good job in risk prevention and emergency response plans, and maximize risk mitigation and ensure safety. (End)

Source: China News Network