ASEAN countries active in land-sea trade corridor construction

Guangxi Zhuang autonomous region has been active in deepening Singapore's participation in the construction of the New International Land-Sea Trade Corridor in the western region, said Huang Wenchuan, deputy director of the Development and Reform Commission of Guangxi Zhuang Autonomous Region, on Aug 25.

China and Singapore has signed a memorandum of understanding on cooperation in the construction of the New International Land-Sea Trade Corridor in the western region, while other countries and regions alongside the corridor have also participated in the construction, such as Vietnam, Thailand, Kazakhstan, and Hong Kong.

Being a crucial hub of the New International Land-Sea Trade Corridor in the western region, Guangxi has enhanced regional cooperation, accelerated construction of international cooperation industrial parks, and boosted the cluster of industries alongside the corridor.

Huang noted that Guangxi has bolstered the establishment of a number of distinctive industries with far-reaching influences, including biomedicine and electronic information, on the basis of international cooperation industrial parks like the China-Malaysia Qinzhou Industrial Park and the Sino-Singapore International Logistics Park in Nanning.

At present, the Sino-Singapore International Logistics Park in Nanning has finished construction of its first phase, introducing a batch of outstanding companies from home and abroad like YCH Group, a supply-chain company from Singapore.

The Sino-Singapore International Logistics Park, which has an investment of 10 billion yuan ($1.45 billion), was invested in by Pacific International Lines (PTE) Ltd and covers an overall area of 4,273 mu (284.87 hectares). The park will build a China-ASEAN multimodal transport alliance base to turn Nanning into a major entrepot in West China.