Intl company executives discuss development opportunities in OVC

Over 20 renowned enterprises, including Umicore, Siemens, Walmart, and Deloitte, gathered at the 2024 East Lake High-tech Zone Foreign-Funded Enterprises Party and Investment Forum on Nov 1 in the Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC).

The Top 10 FDI and EC enterprises in OVC were announced during the event, with Schneider and Garrett on the list.

The 2024 East Lake High-tech Zone Foreign-Funded Enterprises Party and Investment Forum is held on Nov 1 in OVC. [Photo/WeChat account of Optics Valley of China]

Foreign enterprises are closely linked to international capital, cutting-edge technology, and top talent, serving as vital mediators for OVC to engage in international cooperation, enhance resource connections, and boost global influence. This enterprise party has been held in OVC for nearly a decade, aiming to attract more overseas investment and create a favorable business environment for international investors.

At the exchange, Deloitte Wuhan Managing Partner Fan Hongbin analyzed OVC's substantial innovation advantages and how recent national financial policies will facilitate the development of OVC's enterprises.

Wang Wei, general manager of Schneider Wuhan, stated, "In the past decade, Schneider Wuhan's overall revenue and employee numbers have tripled, marking a remarkable achievement. We look forward to deepening integration with OVC to support its high-quality, sustainable development goals."

Wang Wei, general manager of Schneider Wuhan, delivers a speech at the event. [Photo/WeChat account of Optics Valley of China]

OVC has attracted over 1,200 foreign enterprises and nearly 100 Fortune Global 500 companies. By 2023, foreign direct investment in OVC reached $677 million.

Since the beginning of this year, OVC has enhanced its policy support system in various dimensions, including FDI incentives, internationalized facilities, and technological innovation support. This has resulted in the landing of global-quality projects like Garrett's R&D Center and Concord New Energy's China headquarters.

OVC will continue to optimize the business environment, implement supportive policies, and assist foreign enterprises in achieving rapid growth within the region.