Tibet's
Investment Promotion Bureau said that 313 deals were signed last
year, bringing contractual investment totaling 4.72 billion yuan
(US$580 million) into the region, according to a Xinhua News Agency
report on August 8.
Of this, 2.1 billion yuan (US$259 million) was from other parts
of China, a 90 percent increase on the year before.
Actual investment of 1.57 billion yuan (US$193 million) was
received during the year for projects in areas including
agriculture, tourism services, traditional Tibetan medicine, mining
and real estate.
Inclusion in the Western Development Plan has meant that more
and more business has been attracted to Tibet Autonomous Region as
its infrastructure and environment have been improved.
This has enabled Tibet's unique combination of resources and its
pillar industries of tourism, traditional Tibetan medicine, mining
and agricultural processing to be utilized for huge commercial
opportunities.
The government has put 78.5 billion yuan (US$9.68 billion) into
energy production, traffic and communications. At the same time,
local governments, state departments and state-run enterprises have
invested 5.3 billion yuan (US$654 million) into the social and
economic development of Tibet.
The region has issued a series of favorable policies to
encourage investment and the Investment Promotion Bureau provides
one-step service licensing, improving the rate of examination and
approval of services.
Examples include 160 million yuan (US$19.74 million) in
investment from Hubei Huaxin Company to rebuild Xingye Cement
Factory; while Nagqu Pashm Factory was rebuilt by Inner Mongolia
Erdos Group, and Nagqu Dongyuan Pashm Ltd. Company founded as a
joint venture.
In recent years, Tibet has also attracted multinational
companies. In 2004, Carlsberg Ltd. Company invested in Lhasa Beer
Co. Ltd., the first of the world's top 500 enterprises to invest in
the region, preceding the Tibet branch of Amway in Lhasa.
(China.org.cn by Zhou Jing August 14, 2005)