Diligent efforts pay off in NETDA

A bird's-eye view of NETDA. [Photo provided to en.nantong.gov.cn]

The Nantong Economic and Technological Development Area (NETDA) in Jiangsu province last year exerted efforts to attract investment and create a favorable business environment to ensure a solid start for this year.

NETDA has set up a team of public employees dedicated to investment attraction. As a result, last year, the development area led Nantong city in securing 56 projects worth 46.54 billion yuan ($6.5 billion) in total. Notably, it achieved with an actual utilization of foreign capital amounting to $540 million, successfully attracting foreign businesses and investment.

Last year marks the comprehensive improvement of the business environment within the development area, evident in the implementation of 35 measures by local authorities to facilitate such advancements.

A project service team was established to reduce the time spanning from project signing to construction from eight months to within four months. This accelerated multiple major projects, leading to new records being set in major project construction efficiency in the city.

The improved business environment, in turn, inspired local enterprises to seek for innovation and transformation. Statistics show that from January to November, the investment of local businesses in R&D accounted for 3.8 percent of the total, contributing to the adding of 11 "little giants" in the area.