Houston a global gateway, says city delegation
Updated: 2011-09-11 10:12
By Guan Xiaofeng (China Daily Fujian Bureau)
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The Texas city of Houston provides a gateway for Chinese enterprises to enter the United States and is an ideal investment destination, a delegate from the Greater Houston Partnership (GHP) said on Sept 8.
"It is very profitable for Chinese companies to locate in Houston because our operating costs are so much lower than the national average, including wages and real estate costs," Craig Richard, GHP chief economic development officer, said at a press conference during the ongoing CIFIT in Xiamen.
"We offer infrastructure and human resources that are essential to the growth of multinational corporations. The region enjoys a superior distribution and logistics system anchored by the Port of Houston and the Houston Airport System as well as several railroads."
Don J. Wang, head of the GHP delegation and Chairman of MetroCorp Bancshares, said the city "promotes investment in the fields of energy, information technology, aerospace, biochemical technology and medical science."
GHP is an economic development organization for the Greater Houston area, which is the sixth largest metropolitan area in the US, with 5.9 million inhabitants. It was the fastest growing metro in the US from 2000-2010.
"We welcome all kinds of investors regardless of industrial sectors," Richard said.
However, he pointed out Houston has several sectors that are especially attractive, such as alternative energy and medical devices."
He said Chinese companies working in the fields of solar, wind or biofuel energy need to be located in Houston - the energy capital of the world.
"By locating in Houston, you will be recognized as a true energy company," he said.
Richard added that Houston has been a pioneer in the medical field, including work in the heart transplant and diabetes treatment. "Chinese companies?who want to be recognized as a world leader in medical devices are particularly welcomed in Houston," he said.
The delegation set up two booths at CIFIT and will continue to visit Qingdao, Beijing and Shanghai.
"The mission of our delegation is to further promote trade and investment between Greater Houston and China as well as consolidating Houston's status as a gateway to global market," Richard said.
Richard said he believed that with the completion of the Panama Canal expansion project in 2014, large cargo ships from Asia can sail directly to Houston without stopping at the western coast of the United States.
"Chinese companies have done very well in Houston so far," he said. "We expect the investment and trade opportunity between Houston and China will increase dramatically in the coming years."
As a global corporate powerhouse with a GDP of $395.4 billion, Houston?has 94 foreign consulates, including China, and more than 3,100 companies doing business globally,?according to a brochure released by GHP.