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Local Businesses Network Looking To Chinese Investment

Oct 12, 2016 | 1:15 PM

LETHBRIDGE – Business owners and investors from Anyang, China are in Lethbridge this week, connecting with local businesses in hopes of potential foreign investment opportunities.

A consortium of southern Alberta economic development organizations, representing more than 40 municipalities is hosting the delegates.

The investment and trade visit runs from Oct 11 to 14, and acts as the next step of an overall strategy that has included sister city agreements and previous China-Lethbridge visits, with the most recent seeing Lethbridge host an education focused delegation.

Strategically selected and by invitation only, the Chinese investors and companies – primarily from the Anyang region in the Henan province – are from the sectors of agriculture, agri-food, renewable energy technologies, clean-technologies and tourism.

John Evans, managing director of Tractus, a company that connects North American companies with Asian investors, said that unlike correspondence that is often too broad-based in approach, this mission is focused on direct business to business engagement matching foreign investors with specific, well-matched businesses in the region.

“I think Lethbridge is taking a targeted approach to foreign investment attraction through this partnership. A lot of places in China have big competition for investment but choosing a place like Anyang, which has a very similar environment to Lethbridge, it will have a lot of success in creating a relationship over longer terms.”

Evans cited opportunities in Lethbridge outside of agriculture, such as manufacturing, real estate and technologies spurred from the U of L as being further attractors for the investors.

He also suggested that there is no need for the public to worry about job loss when it comes to foreign investors.

“The Chinese have realized a decade ago that they aren’t really good at running businesses in North America. When they are making investments here they are investing in equity, hiring best in class people here already and employing local people.”

Tour stops include: agri-food, Alternative & Renewable Energy businesses in the City of Lethbridge, Lethbridge County, the Town of Taber, and the Town of Magrath, along with multiple new development sites.

Heather McIntosh-Rivera, Economic Development Lethbridge director of business development, said that the Chinese market has been increasingly more open to all types of business interests in southern Alberta from modest to massive

“We’ve learned that it is more about building a foundational relationship than jumping right into an immediate deal.”

Canada is China’s second-largest trading partner, with nearly $80 billion in trade flowing back and forth between the two countries.