As a hot land for foreign investment, SIP has gathered establishments of enterprises from around the world, of which 68 are from Italy. These Italian enterprises, including Manuli, Modula, Safilo and RadiciGroup, have achieved remarkable development in SIP.
RadiciGroup, one of the world’s leading producers of chemical intermediates, polyamide polymers, engineering plastics, synthetic fibres and nonwovens, founded a wholly-owned subsidiary in SIP in 2006 to provide polyamides for use in auto, electronics and other sectors. The company invested US$45 million in SIP-Xiangcheng Cooperative Economic Development Area in December 2020 to build a facility for developing, manufacturing and marketing new materials.
Modula, a famous Italian manufacturer of automated storage and retrieval systems, founded an automation equipment branch in SIP in 2018 with a total investment of US$50 million, and by 2020, the branch’s actual investment had reached about RMB 200 million. It has now grown into one of Modula’s four major vertical storage and warehouse management system manufacturing bases worldwide.
It is learnt that the China-Italy Chamber of Commerce (CICC) recently opened the CICC Suzhou Center in SIP with the hope of promoting cooperation between Italian enterprises and SIP and enterprises in it. So far, the center has organized over 30 events for this purpose.
February 4, 2023
