The 6th Guangdong Investment Development Forum and the 2022 annual conference of the Guangdong Investment Promotion Association (GDIPA) took place in Guangzhou on Sept 5, providing an opportunity for senior executives from Fortune Global 500 companies, listed companies, industrial leaders, financing service providers, as well as local investment promotion agencies to interact and explore business development opportunities in Guangdong amidst the current global economic uncertainty.

The event was jointly hosted by the China Council for International Investment Promotion and the GDIPA, as well as the Guangzhou, Foshan, and Guangzhou Development District associations of enterprises with foreign investment.

In her video speech, Ma Xiuhong, chairman of the China Council for International Investment Promotion and the former vice-minister of commerce, said that the get-together is of great significance as entrepreneurs, experts, and officials are able to sit together to dwell on innovative development under the current circumstances.

"The event will provide advice and suggestions for Guangdong's higher-quality and higher-level development," she said.

During his speech, Liu Yuelun, former chairman of the Guangzhou Municipal Committee of the Chinese People's Political Consultative Conference, noted, "I talked a lot with business people recently and found a common concern among most of them: the uncertainty of the world."

Zheng Yongnian delivers a speech at the event. [Photo provided to guangdong.chinadaily.com.cn]

"I suggest that investment promotion agencies in Guangdong should make more contributions to create a predictable and outstanding business environment via full-process services for investors to enhance their investment certainty against the global uncertainty," he added.

Liu also proposed that investment promotion agencies should play better roles connecting enterprises with the government, connecting different enterprises, and connecting mature enterprises with start-ups.

During the event, Zheng Yongnian, a renowned scholar and director of the Guangzhou Institute of GBA, delivered a keynote speech on the integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area amid global economic changes.

"By leveraging the synergic effects of Hong Kong, Macao, and the nine Pearl River Delta cities in Guangdong, the GBA is in a good position and should develop at least three world-class platforms – finance, sci-tech innovation and manufacturing, as well as education – to sharpen the region's competitive edge," he said.

As part of the event, the GDIPA launched its "new-round start" ceremony in celebration of its 5th anniversary of foundation, while organizers awarded agencies and industrial parks in the GBA that made prominent progress in innovative practices furthering the business environment in the previous year.

Hubert Xu (L7), chairman of the GDIPA, takes a photo with winners after an awards ceremony. [Photo provided to guangdong.chinadaily.com.cn]

As a preferred destination for foreign investors, Guangdong had recorded 289,000 foreign-funded enterprises, with their total paid-in capital exceeding $523.91 billion by the end of 2021, official statistics showed.

In the first seven months of this year, the province welcomed 33 foreign-invested projects, with paid-in capital surpassing $100 million, which added up to $9.14 billion and accounted for 54 percent of the province's total paid-in foreign capital. Both the number of major projects and the amount of paid-in capital topped other regions in China in the period, according to official statistics.