Overseas investment for Dagang shoe zone
A new shoemaking zone is being developed in Dagang Town, China, and new reports suggest new overseas firms are ready to invest in the area.
A firm from Taiwan is set to build a 2,000 square-metre science and technology research building in the area by the end of the year and US shoemaking machinery firm USM Corporation is to invest 500 million yuan ($73.2 million) in the zone.
Reports indicate that Dagang Town, in Jiangsu province, is among the three biggest shoemaking machinery zones in China, along with Wenzhou and Dongguan City. Sales for the industry are said to have totalled 950 million yuan in 2008. Around 120 footwear machinery firms are based in the area, accounting for around 10,000 jobs. Sales are expected to reach one billion yuan in 2009.
