South Asian Overseas Chinese Business Forum: Enhancing Understanding, Strengthening Trust, and Promoting Cooperation Lawyers | Opening in Kunming, Yunnan. China South Expo
Recently, the 7th China South Asia Expo opened in Kunming, Yunnan. Since the first South China Expo was held in 2013, China's economic and trade cooperation with South Asian countries has continued to deepen.
Yu Lei, the manager of the "Chinese People's Home" business hotel in Dhaka, Bangladesh, told China News Agency that in recent years, Bangladesh has continuously increased its efforts to attract foreign investment, promulgated relevant laws and regulations, and provided foreign investors with investment assistance, tax exemptions and other incentive measures, as well as legal protection. More and more Chinese people are going to Bangladesh for investment and business.
"There is great potential for the development of Bangladesh's import and export trade and outsourcing industry. With a large population and high employment demand, the government provides certain support for import and export and outsourcing enterprises." Yu Lei said that outsourcing enterprises such as shoes, hats, and wig manufacturing factories are the key targets of investment attraction for the Bangladeshi government, and are also the main areas involved by local overseas Chinese.
Yu Lei stated that Bangladesh's current production capacity and technological level are difficult to form a large-scale self owned brand. The local recognition of products made in China is high, and it requires the input of clothing machinery, medical equipment, and agricultural breeding technology to continuously improve the local production and living standards.
"There are many local traders in Bangladesh who want to represent Chinese brands. Chinese brand owners can understand the scale, duration, credit rating, etc. of the factories held by the traders before cooperation to protect the interests of the enterprise," said Yu Lei.
Yu Lei believes that the main problem faced by overseas Chinese and Chinese enterprises is that the information obtained is not comprehensive enough, leading to blind investment. Overseas Chinese businessmen can inquire about the local situation with the Chinese Embassy in Bangladesh, lawyers, and experienced Chinese investors before investing in building factories.
"Overseas Chinese businessmen have a long legal litigation time in Bangladesh, and if there are economic disputes, it often consumes a lot of time and economic costs. The Chinese Chamber of Commerce can accumulate legal resources and provide legal advice and support for overseas Chinese and Chinese funded enterprises." Yu Lei said.
Ye Liang, General Advisor of the Nepal Chinese Business Association and Head of Mount Everest Cultural Communication Company, stated that compliance is the foundation of doing business overseas. If overseas Chinese businesses and enterprises can thoroughly understand the legal details in the early stage, they may be able to avoid many risks.
Taking Nepal as an example, there are clear regulations on the industry sectors and methods for foreign investment, and industries such as beauty and food processing are not open to foreign investment. Industry access policies are also constantly changing. Foreign investors in Nepal need to understand the industries that restrict entry, the procedures for obtaining investment approval, and the types of investment methods before investing in Nepal.
Ye Liang stated that local overseas Chinese, chambers of commerce, and associations in Nepal have made significant efforts to break down information barriers. For example, under the guidance of the Chinese Embassy in Nepal, the Nepal Chinese Enterprise Association has released a report on the business environment and corporate social responsibility in Nepal, detailing Nepal's business environment, industry potential, and existing challenges.
"Entering an overseas market requires following local rules, respecting local customs, religious beliefs, and cultural customs. It is also important to consider the interests of the local people, maintain harmonious relationships with them, and achieve mutual benefit." Ye Liang said.
Speaking of how to promote communication and mutual understanding, Ye Liang took this South China Expo as an example and stated that most Nepalese exhibitors showcase traditional handicrafts, blankets, wood carvings, etc. in the form of individual businesses. In the future, various chambers of commerce can cooperate with high-quality enterprises with local qualifications to participate in exhibitions. The exhibition can also be linked with the Nepal Investment Summit to jointly showcase the high-quality products and market resources of China and Nepal, and build an exchange platform.
"Participating in exhibitions and other activities is a process of boosting confidence among businessmen from various countries. With a foundation of trust, economic and trade exchanges can be more smooth," said Ye Liang.
