A workshop of Envision Energy [Photo/wxrb.com]
"Our branch in Mexico will be able to resume operations by June 1," said Chu Guodong, assistant general manager of Jiangnan Mould & Plastic Technology Co, a Jiangyin-based company involved in the development, production, and sale of auto bumpers and other components.
Due to the COVID-19 pandemic, many overseas car manufacturers have closed their factories. According to Chu, their Mexican branch has been waiting for the green light from the Mexico government to resume work.
Wuxi companies have continued expanding overseas despite the impact of the epidemic. According to the Wuxi Bureau of Commerce, a total of 24 foreign investment projects costing $340 million were put on record from January to April, involving a variety of fields, such as manufacturing, the service industry, and the wholesale industry. Wuxi boasted the second most foreign investment projects in Jiangsu province.
One Wuxi company, the Jiangyin-based Envision Energy, invested in a Nissan lithium battery project in Japan, and WuXi Biologics acquired Canbridge Pharmaceuticals Inc in an effort to develop more cutting-edge technology.
On a less optimistic note, Liutan Garment's Cambodian factory, which is responsible for processing tasks, had its capacity reduced by half in March due to the epidemic. "The situation took a favorable turn in May, and we are confident that we will overcome current difficulties," said a representative of the company.
