[Foreign investors’ take on Guangdong Business Environment①]
On March 1, the Regulations on Protection of Rights and Interests of Foreign Investors in Guangdong Province came into effect, aiming to improve its business environment and encourage more foreign businesses. GDToday launches a special report titled "Foreign investors' taken on Guangdong’s Business Environment" and shares unique insights from representatives of foreign investors in Guangdong.
Dr. Harley Seyedin, president of AmCham South China, introduced the latest report at the press conference on March 1. [Photo provided to newsgd.com]
“Government support and policy advantages are the major reasons for our chamber members to establish companies in Guangdong,” said Dr. Harley Seyedin, president of the American Chamber of Commerce in South China (AmCham South China), when sharing with GDToday on the business environment of Guangdong.
The Regulations on Protection of Rights and Interests of Foreign Investors in Guangdong Province came into effect today (March 1). It is the first local regulation targeting protecting foreign investment in China, echoing the Foreign Investment Law of the People’s Republic of China that came into effect on January 1, 2020.
Seyedin pointed out that thanks to Guangdong government’s efforts, the business environment has shown an upward spiral of improvement in recent years, and Guangzhou, the capital of Guangdong, has become the top preferred reinvestment destination in China for 5 consecutive years.
This is according to the latest report on the state of business in South China released by Seyedin’s AmCham South China today (March 1). The report also shows that most companies chose Guangdong mainly because of the potential for market growth, seconded by the transportation and logistical advantages.
GDToday: The Regulations on Protection of Rights and Interests of Foreign Investors in Guangdong Province came into force today. What do you think about the regulations?
Dr. Harley: The Regulations explicitly stipulate equal protection for foreign investment and improvement of relevant policies to protect the IPR of foreign investors, which is of great significance and value for members of the American Chamber of Commerce in South China.
Government support and policy advantages are major reasons why AmCham’s members establish companies in South China. With a greater focus on key foreign-invested projects, more government support, preferential policies, and financial aid will be available to foreign businesses.
GDToday: What kind of support did you get from the government last year?
Dr. Harley: Guangdong has remained steadfast in providing support and assistance to foreign companies on all fronts. I am most impressed by its speedy and active response to the difficulties faced by foreign enterprises.
Last year, the international business community was affected by visa and travel restrictions caused by the pandemic. It was a severe challenge for many foreign companies since expats cannot return to China for crucial projects. With the help of all government levels, we can now get better solutions.
GDToday: Do you have any suggestions for improving the business environment?
Dr. Harley: The Guangdong government has always been committed to creating a high-quality legal business environment with international competitiveness. Notable results have been achieved in multiple areas. According to AmCham South China’s 2022 Special Report on the State of Business in South China, a comprehensive and quantitative study of 230 companies released on March 1, the business environment in South China, Guangdong in particular, shows an upward spiral of improvement in recent years.
Guangdong's regulations on protecting foreign investors' rights to come to effect on March 1
Full text: Regulations on Protection of Rights and Interests of Foreign Investors in Guangdong Province
Author | Nan, Fanny
Editor | Wing, Olivia, Jerry