Investors eye Tibet's untapped wealth
( 2003-12-29 22:32) (Xinhua)
With rich natural resources, a unique folk culture
and improving investment environment, China's Tibet Autonomous Region has drawn
the attention of a growing number of investors from home and abroad.
The autonomous region absorbed more than 2 billion yuan (US$241 million) in
contractual investment in the first 11 months of this year, and used over 400
million yuan (US$48.36 million), according to statistics from the regional
investment bureau.
The region approved 11 foreign-financed enterprises and contractual foreign
investment reached US$8.68 million , a year-on-year rise of 89 per cent.
Tibet used US$4.67 million of investment from overseas during the same
period, up 59 per cent over last year. Foreign investment expanded into food
processing, tourism-related services, catering and recreation, textiles and
transportation.
The central government and other provinces and autonomous regions of China
have invested approximately 90 billion yuan (US$10. 88 billion) in
infrastructure construction over the past decade to boosting local economy and
improve local investment environment.
The region has adopted a series of preferential policies and simplified
procedures for overseas investors.
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