The United Nations Technological and Information Promotion System (TIPS) will act as an intermediary to help draw billions of dollars in investment for large-scale projects in China. It will also help Chinese companies become authorized suppliers to numerous UN agencies.
Zhu Renjie, head of the TIPS East China Operation’s Department II, said 100 projects are planned that will cost at least 100 million yuan (US$12.0 million) each.
However, the UN is not the direct investor. Instead, the TIPS will select projects and act as an intermediary for the European Union, the World Bank, as well as leading financial institutes and others.
The TIPS will collect data and verify information for project proposals and will share these with investors.
Most projects involve the energy sector and infrastructure building but exclude renovations of heritage sites, environmental protection, large-scale manufacturing and high-technology manufacturing.
Zhu added that the 100 projects must all be environmentally friendly and will boost sustainable growth in the different locales.
At least US$600 million will be required for each of the 10 proposed development parks, which are to meet international standards.
The TIPS will help potential global investors select locations for these development parks all around China.
However, insiders point out that the majority of the 10 parks will be located in eastern China, where economic growth is moving at a much faster speed.
Apart from these large investments, organizations attached to the UN will be the major buyers of US$1 billion worth of products from Chinese companies.
On average, UN agencies will spend at least US$30 billion this year to buy products from authorized suppliers everywhere in the world.
Since 2002, UN officials have been visiting Shanghai and other major cities to seek out potential suppliers.
(China Daily February 27, 2004)
