Multinationals investing in Xinjiang
(Xinhua)
Updated: 2005-08-08 10:49

Representatives of 28 multinationals ranking world's top 500 gathered at Urumqi, capital of Northwest China's Xinjiang Uygur Autonomous Region, to discuss the economic cooperation with Xinjiang and central Asian countries.

They are participating in a forum on multinationals' cooperation with Xinjiang and central Asia, which opened Thursday.

Multinationals are willing to invest in Xinjiang, mostly because they were attracted by the markets in central Asia and even Europe, said Wang Ning, director of the economics institute of the Xinjiang Academy of Social Sciences.

Xinjiang boasts rich natural resources, such as oil and natural gas. Its geographical situation and improved investment environment make it attractive for multinationals, said Richard Hausmann, president and CEO of Siemens Ltd., China.

Xinjiang has a long trade connection with central Asia by the Silk Road in history, as could make it a base for ultinationals to enter central Asian nations, Gao said.

So far, multinationals such as IBM, SK, Carrefour, Intel, have established offices in Xinjiang.

Since China's developing the west policy began in 2000, Xinjiang has made remarkable progress in infrastructure construction.

Ma Xiuhong, vice minister of commerce, described the cooperation among multinationals, Xinjiang and Central Asia as "proper in time."

Xinjiang's key position, rich resources, improved infrastructure, could meet the requirements for multinationals' investment in the region, Ma said.

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