During the Shoton Festival investment promotional fair held on Aug 17, Lhasa — the capital city of the Tibet autonomous region — witnessed the signing of 32 investment projects between local businesses and investors from across the country. Pledged investment of these projects totaled 13.06 billion yuan ($1.79 billion), according to the city's investment promotion bureau.

 

One major project agreed at the fair was a solar power facility to be established in Lhasa's Chushul county, with a total investment of 620 million yuan. The project, called Tsarak Solar Farm, will be funded by Huadian (Chushul) New Energy Corp.

 

With an installed capacity of 100 megawatts, the facility can generate 184 million kilowatt-hours of electricity annually once fully operated, according to an executive of the company.

 

He added that as this capacity represents a saving of 55,800 metric tons of coal, the project can play a role in Lhasa's low-carbon development.

 

The tourism industry was another sector that garnered a huge amount of investment. Lhasa's Dagze district, for instance, signed an agreement with Anhui province-based Dancheng Yijing Cultural Tourism Group on developing a 1-billion-yuan tourism project in a community surrounding the famed Yerpa Monastery. The project will include a lingka, or forest park; scenic areas; trails for pedestrians and cyclists, and a luxury hotel.

 

At the investment fair, the government of Lhasa announced a package of 30 incentive policies for investors. Outstanding investors were also awarded at the event.

 

Lhasa-based Lingfeng Logistics, for instance, was granted an award worth 2.4 million yuan for its contributions to the industry.

 

Li Hongbo, a senior executive of the company, said Lingfeng has developed greatly over the past few years and this achievement can be attributed to Lhasa's improving business environment and strong support from the local government.

 

He added that the company will make the best of the government's support to build itself into a demonstration enterprise for intelligent logistics in Lhasa.

 

Drolka, board chairwoman of Zhongyuan Construction Material Group, won another special honor. She was appointed by the Lhasa investment promotion bureau as the city's "ambassador" for investment promotion.

 

When receiving the letter of appointment, Drolka said she will make good use of her company's connections to help to draw more investors to the city.

 

Pan Wenqing, vice-mayor of Lhasa, commended the role of private businesses like Zhongyuan in investment promotion and boosting local growth.

 

He said that private businesses now account for about 94 percent of the total number of market entities in Lhasa and contribute to 98 percent of local tax revenues.

 

The official promised that private businesses will enjoy the same treatment as any other market entities in terms of market access and government support.

 

By YUAN SHENGGAO