Watch the video to learn more about Lucheng businessmen in Vietnam. [Video/Wenzhou Overseas Media Center]
In recent years, many foreigners have been conducting business in Wenzhou and have fallen in love with the city.
Amid increased efforts to expand globally, Wenzhou enterprises are actively exploring overseas markets and have built many industrial parks in foreign countries. In this video, we will show you the story of Long Jiang Industrial Park in Vietnam.
Long Jiang Industrial Park in Vietnam, invested in by Wenzhou Tien Giang Investment Management Co in Lucheng district in 2007, is located in Tan Lap, Tan Phuoc, Tien Giang Province, South Vietnam. The project is wholly-owned by Chinese enterprises.
By the end of 2022, the park was home to 52 enterprises, three of which were from Wenzhou. Its total investment amounts to $1.8 billion. The enterprises in the park rely on Vietnam's superior geographical location and the rich resources of peripheral countries to promote its continuous economic development. This project has not only created more than 30,000 jobs for locals, but also given a sizable boost to the local economy, with an expected industrial output of over $8 billion in 2023.
Lucheng businessmen have also built two other national industrial parks overseas. Wenzhou Foreign Trade Industrial Products Co, for example, has acquired a controlling interest in the Belmec Business & Logistics Park in Serbia by way of overseas M&A holding. Since it began operating, 156 enterprises from eight countries have set up operations in the park, with annual sales of $300 million.
Moreover, Wenzhou's Kangnai Group invested in the construction of Ussuri Economic & Trade Cooperation Zone in 2006, which after more than 10 years of development, has become the largest industrial park in the Far East.
