CFLD's subsidiary company signed a Memorandum of Understanding (MOU) with the State Government of Haryana and HSIIDC in India today. The two parties further defined cooperative regions and agreed to jointly build the NIC by adopting the Public-Private-Partnerships (PPP) model.
Zhao Hongjing, President of CFLD International, said this project is to further regional economic development, promote social harmony and improve the quality of life in Haryana, India, and it will become the benchmark in India's industrialization and urbanization landscape.
The MOU specifies that the cooperative regions of the two parties are Sohna and Manesar of Haryana held by HSIIDC, which are within a radius of 30 kilometers around Delhi, the capital of India, and the economic capital of Gurgaon.
According to the terms of the agreement, CFLD will take the PPP approach, whereby this project will be led by the government, run by enterprises, in accordance with the general requirements for the construction of industrial parks and new urbanization plans in order to provide a package of comprehensive solutions for the planning, construction, and execution of Haryana's new industrialization and urbanization initiatives with a NIC complete with highly specialized industries, a fully functional city, all within an eco-friendly environment.
"The cooperation between CFLD and Haryana will generate a good synergistic effect and promote the rapid development of regional economy," said Sudhir Rajpal, President of HSIIDC at the signing ceremony. He further added that the visit made by the state government of Haryana to Gu'an in January 2016 was very successful and that the state government believed that CFLD had complete urban development capabilities to run with this project. He believed that the success of CFLD in China will serve as a good reference point for Haryana to follow.
As a leading enterprise in China's NIC industry, CFLD hopes that by investing in the construction and the joint development of this international NIC, it serves as a conduit for other Chinese enterprises to follow suit and contribute to the implementation of "the Belt and Road" strategy.
In efforts to promote the globalization plans of CFLD and its overseas expansion of NICs, it follows the formula of developing and building a good foundation for improved Sino-Foreign cooperation. This is achieved by the “Belt and Road Initiative", a development strategy and framework, that focuses on connectivity and cooperation among countries primarily between China and the rest of Eurasia, which consists of two main components, the land-based "Silk Road Economic Belt" (SREB) and oceangoing "Maritime Silk Road" (MSR). The strategy underlines China's push to take a bigger role in Sino-foreign cooperation in production Prior to this, CFLD's first foray into the international NIC business was officially given the green light in Indonesia.
CFLD plans to utilize its wealth of experience in city planning, funding large projects and park operations to other Indian projects to boost the regional development of India, provide opportunities for other Chinese enterprises to go overseas, and to further strengthen industrial cooperation between China and India.
Mr. Manohar Lal, Chief Minister of the State Government of Haryana, India expressed that Haryana is actively making reforms and embracing changes with the rapid development of India's economy. The state government has pursued more business-friendly policies for industrial promotion and "Haryana Investment Summit" in 2015 is such an effort to help Haryana maintain its economic growth rate of over 8% in the coming years.
On January 22, CFLD signed a separate Memorandum of Cooperation with Haryana. Five Chinese enterprises, including Inspur Co., Ltd., also signed joint investment memorandums with the State Government of Haryana and CFLD. In the future, these companies will invest and set up factories in India using the industrial platform ecosystem built by CFLD.
Mr. Manohar Lal welcomed the investments made by CFLD and believes that the NIC project between CFLD and HSIIDC will further consolidate India's appeal to foreign investors. He added that the state government will provide full support for the successful signing and implementation of the project.