The Ambassador of Benin to China led a delegation to visit Qingdao textile enterprises to promote two-way investment

Since the resumption of free travel, Chinese companies’ investment intentions in Africa (outbound) have increased significantly. Data released by the China Federation of Logistics and Purchasing and the Service Industry Survey Center of the National Bureau of Statistics show that the global manufacturing PMI was 49.9% in February 2023, an increase of 0.7 percentage points from the previous month, rising month-on-month for 2 consecutive months, showing that the global economy Showing initial signs of stabilization and recovery.

Data shows that China has been Africa’s largest trading partner for 13 consecutive years since 2009. As China-Africa cooperation increases, the Benin Embassy in China is constantly discovering high-quality companies in the hope of promoting cooperation. The Benin Ambassador to China led a delegation to visit Qingdao textile and garment enterprises to deepen and expand practical business and achieve common development. Benin’s Ambassador to China, Mr. Simon-Pierre Adowelander, and Benin’s Commercial Counselor in China, Mr. Luc Aiba, listened to the suggestions of many companies. The topics of the visit included the Grugibe Industrial Park visited by Minister Qin Gang, which promoted investment exchanges between China and Benin and was committed to contributing to the industrialization process of Benin.

The Ambassador of Benin to China led a delegation to visit Qili Group. Qili Group is a large-scale foreign trade enterprise mainly engaged in the processing, import and export of various garments and jeans. It is one of the top ten garment export enterprises in the country and one of the top 500 service enterprises in China. During the exchange between the two parties, Qili Group has a high degree of recognition of the prospects of the African market and hopes that both parties can promote cooperation in the future. In addition, the delegation led by the Ambassador of Benin to China also visited Phoenix Dongxiang Printing and Dyeing Co., Ltd. This company focuses on the African market and produces a series of batik products. It has entered the African market with its rough design style and bright color combinations, and is closely related to Africa. The integration of ethnic costume culture and natural scenery has become a fashion pursuit of African consumers.

Benin has always been at the forefront of Africa’s reform and development. The political situation and business environment are very stable, and it also has a modern and efficient logistics system. Benin’s Grugibe Industrial Park is an integration of Africa and Africa. The industrial park is jointly managed and operated with the Republic of Benin. It is a comprehensive industrial park with a planned area of 1,640 hectares. It is expected to attract US$1.272 billion in foreign direct investment and 35 companies will be stationed there. For the textile industry, Benin’s Grugibe Industrial Park is a very good choice. The park can provide highquality sustainable cotton resources and realize direct harvesting of cotton from its origin. Prices are lower and companies don’t have to worry about raw material supply.

The investment types in the Textile Park of Grugibe Industrial Park in Benin are flexible. You can choose to invest in the entire industrial chain, or invest in a single spinning, weaving, knitting, processing or garment manufacturing unit. The park not only has ready-to-go garment manufacturing plants, but also has the advantages of one-stop government assistance to provide enterprises with all external service connections and technical support for investors in the textile industry.

Benin and China are constantly promoting two-way investment by enterprises, promoting the transfer of production capacity, following the spirit of China-Africa friendly cooperation, adhering to the concepts of sincerity, real results, amity and good faith and the correct view of justice and interests to achieve long-term and healthy development.

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