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7 Foreign-funded Enterprises Introduced Into Yichang FTA
2018-07-13 11:19:45

  On July 2, Yichang Free Trade Area issued the "Receipt Form for the Establishment and Foreign Investment Enterprises"and the "Business license for Industry and Commerce Registration", marking the formal settlement of Ji Li Xi(Yichang) Import and Export Trading Co., Ltd., a Bangladesh-owned enterprise in Yichang. It was the first time to issue these two docs at the same time. The numbers of foreign-funded enterprises in Yichang FTA along the Belt and Road line have been increased to 7 this year.

  Jay Hussein(杰伊·侯赛因), the Director of Ji Li Xi, runs the largest jute business in Bangladesh, and plans to set up a distribution center in Yichang to sell jute, fruits, grains and other agricultural products all over China, in return, to import canned citrus and fresh fruits from Yichang. The annual import and export cargo volume is expected to 1800 sets of containers, with a value of about $20 million.

  Thanks to Lady Hu Shouying’s introduction, Yichang can be the home to Ji Li Xi. She has long been working as an English translator for central enterprises in Bangladesh, and has forged a friendship with many local entrepreneurs. At the beginning of the year, she was commissioned by Jay Hussein to consult the FTA polices, facilitating the first face-to-face exchange between the two sides.

  A few days ago, Jay Hussein paid a special visit to investigate the projects under construction in Yichang comprehensive free trade zone, Yichang-Wuhan-Europe railway and Three Gorges bonded logistics center. "Yichang is a beautiful place, the people here are friendly and hospitable, and it is so kind that Yichang FTA prepares the Muslim diet and prayers places at the Lesser Bairam. Most importantly, the high level foreign trade and administration services here have given me confidence in investing in Yichang.”He remarked.

  In order to further simplify handling process, the Administrative Services Bureau supervises the enterprises screened out from the negative lists in an integrated record management way. In accordance with the requirements of "a set of paper materials, a procedure and a standard for examination and approval (filing),one receipt", the business record and business registration can be disposed at the same time.

  The Yichang FTA has made great efforts to optimize approval procedures of establishment and change of foreign-funded enterprises,and commercial registration through multi-departmental internal information sharing. These hard-working has spared the enterprise the hardship of travelling around, and reduced the time limit from five working days to less than two working days, supplying the convenience of "one window, one procedure”, and “one tripat most".

  The person in charge of the Yichang FTA said that since this year, they have focused on the export-oriented economy, expedited the declaration and construction of the Yichang Comprehensive Bonded Area, promoted the regular operation of China-Europe railway and concentrated on creating"the lowest cost, the highest efficiency and the best service "opening-up business environment." In the future, they will focus on the development of the region's industry, endeavoring to link up with "Belt and Road Initiative, attract more high-quality enterprise projects, and shift from policy-oriented to innovation-oriented, environment-oriented and service-oriented, promoting the vigorous development of export-oriented economy.(Reporter: Gao Wei; Correspondent: Sun Xiaohua, Zhou Tingting)