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Haikou to launch 22 projects worth $1.9 billion in Jiangdong New District in 2022

The 82 projects launched earlier will be continued this year, with investments exceeding 40.6 billion yuan

HAIKOU /China/, February 11. /TASS/. The authorities of the Jiangdong New District in Haikou (southern Hainan province) have scheduled 22 new projects with a total investment of over 12.11 billion yuan (about $ 1.9 billion) to be launched this year. This was reported by the Nanguo Metropolis Daily newspaper.

In addition, the district administration said that 82 more projects will be continued this year, investments in which exceed 40.6 billion yuan (about $6.3 billion). A total of 171 projects have been completed or are under construction in Jiangdong, according to official figures. The government has invested 71.9 billion yuan (about $11.3 billion) in them. The bulk of state investments is invested in such areas as basic infrastructure, public services, industrial infrastructure, and environmental projects.

The Jiangdong New District Administration previously approved a plan to improve the business environment and adopted a plan to realize its goals for the next three years. Jiangdong intends to use the best practices from across the globe, particularly those of Singapore, in terms of design and innovation, trade and investment facilitation, as well as the free movement of people across borders.

The creation of new districts, where the authorities are attracting various enterprises and high-tech companies, is an important part of the Hainan Free Trade Port Project, whose development program was published on June 1.

At present, a total of more than 330 foreign-funded enterprises are registered in Haikou Jiangdong New District. The area planned for the area under construction is about 298 square kilometers. It should contain industrial and residential facilities, as well as an ecological buffer zone with a nature reserve.

Currently, the annual growth rate of foreign enterprises in the area is about 232%. Over the past two years, real foreign investment has exceeded $1 billion.

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