Delaware forges agreement with China to pursue new investments

Delaware is looking to use its location, tax structure, and its reputation for an excellent judiciary as it forges new business relationships with Chinese companies and investors. 

About 40 Chinese business investors took part in a special networking program Thursday morning at Buena Vista in New Castle.  The program came one day after Governor Jack Markell announced an agreement with the Chinese Ministry of Commerce Investment Promotion Agency.

“Out systems are different, but our attitudes toward results are the same,” the Governor said.

The state and the CIPA will collaborate on efforts to inform investors about Delaware’s investment climate.

“Selling Delaware is not a difficult job,” Delaware Economic Development Office Director Alan Levin told the delegates.  He highlighted advantages that included a skilled workforce, access to government officials, and a high quality of life.

John Riley of the Ashland Company, which bought Wilmington-based Hercules, said Ashland could have moved its operations elsewhere, but Delaware turned out to be “a very good place to grow our business for the future.”  Ashland operates seven facilities in China, eploying about 1,400 of its citizens.

Madam Zhand Yingxin is leading the CIPA delegation, and through an interpretor said “Delaware is an attractive place for China’s entrepreneurs.”

Governor Markell took part in a trade mission to China in November.