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Hainan’s Free Trade Port draws global attention as foreign officials attend development seminars

BusinessHainan's Free Trade Port draws global attention as foreign officials attend development seminars

Foreign business officials who attended a recent seminar in Haikou, Hainan province, have expressed their belief that the Hainan Free Trade Port (FTP) will play a larger role in China’s opening-up policy with the implementation of further preferential policies. The event, which was organized by the Academy for International Business Officials, attracted 194 officials from 27 countries. Among them, 114 officials from 24 countries visited the Haikou Integrated Free Trade Zone and the Hainan Free Trade Port Resort Software Community.

Participants at the seminar lauded Hainan’s FTP advantages as a prime example of China’s experience, solutions, and wisdom for reform and opening-up. The visiting officials were keen to learn more about Hainan FTP’s favorable policies, with many expressing interest in investing and doing business in the region.

For example, Luka Dut Deng, the Sudan People’s Liberation Movement’s director for political affairs, was interested in purchasing Breas Medical’s mechanical ventilation products and expressed his intention to report the information to his government, with a view to importing the devices to South Sudan.

Mauricio Rojas Alfaro, adviser to Costa Rica’s general director of civil service, highlighted the significant role played by Hainan in bridging the world and the rest of the country. He was impressed by Hainan’s efforts to consolidate policies, motivate more trade, and benefit both China and the rest of the world. Alfaro added that Costa Rica’s specialties, such as avocados, flowers, gems, and coffee, could be exported to serve Chinese consumers through the Hainan FTP.

Decio Ribeiro Sarmento, director of export promotion at TradeInvest Timor-Leste, was interested in Hainan FTP’s strategies for promoting and attracting foreign companies, as his country just signed an agreement in February to establish a bilateral investment treaty with Indonesia. He sees the construction of the FTP as having multiplier effects, such as job creation, small and mid-sized enterprise development, and tax revenue stimulation.

The Hainan FTP has been a significant growth driver in foreign investment and global trade in recent years, with the region becoming one of the most dynamic areas in China. With its stable institutional framework and continued development of favorable policies, Hainan FTP is poised to attract even more attention and investment from around the world.

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