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| Wednesday, October 08, 2008 00:17:49 |
Chengdu bridges the gap with East China
Cheap labour and low start-up costs attract foreign firms to establish new operations in Chengdu but the city still has a lot to do to bridge the gap with East China, The Standard reported.
Motorola, IBM, Intel, Coca-Cola and Toyota are among those that have poured hundreds of millions of US dollars in new factories, with Ikea and SAP set to be the newest arrivals.
Richard Morgan, a Chengdu-based consultant on Sino-EU business development projects, points out that the onus is now on Chengdu and other western regions to become more entrepreneurial, according to The Standard.
“The `develop the west' campaign has helped to develop infrastructure and provide valuable incentives to foreign companies but Chengdu and other western regions must increasingly rely on , and the private sector to market themselves as a destination for foreign investment,” The Standard cited Morgan.
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