Cantonese enterprises need to know more about OBOR countries
Enterprises from OBOR countries eagerly welcomed their Cantonese counterparts. When visiting Canton Fair, Jorge Pais, the director of Portuguese Industry Association, said that China had become the biggest foreign investment resource country for Portugal, contributing more than 25% foreign funds. He considered that Portuguese Industry Association with offices all around the world could help bring Cantonese products to the world, and hoped in future both sides could cooperate deeply by establishing joint venture companies.
However, some Cantonese enterprises felt disturbed because they were unfamiliar with policies in OBOR countries. Also they were uncertain about the risks of payment postponement and exchange fluctuation.
An official from Guangzhou Ishikawa Machine company said that recently his company want to explore new markets in Thailand and UAE applying the business opportunities brought by OBOR, but they don’t know how to start, or how to get information about preferential policies, therefore, they had to explore the market in Thailand and UAE by themselves.
Liang Haiming, a Hong Kong economist, said that Guangdong played an important role in OBOR strategy, but traditional exporting products in Guangdong were not so popular than before, while smart-phones, fine chemicals, high-end manufacturing products and other popular exporting products still need to develop. Therefore, Liang indicated that what Cantonese enterprises urgently to do is to produce what OBOR countries need. In future Cantonese enterprises should know more about OBOR countries so that they could make use of preferential policies and other local advantages.
According to the statistics released by Canton Fair, there are 184,801 purchasing agents from 216 countries and districts attending, down 0.7% than that in 116th Canton Fair. Its transaction volume of 28.056 billion USD was also lower 9.64% than that of the previous session.