Developing countries can learn from China, says UN official
Li Yong (third from right), director general of the United Nations Industrial Development Organization, attends the launching ceremony of the UNIDO ITPO Shanghai office, which aims to strengthen investment and technology promotion.
World trade and investment requires mutual trust and more cooperation to stabilize cross-border business, said Li Yong, director general of the United Nations Industrial Development Organization, during the ongoing China International Import Expo.
“We can see the world economy has encountered some difficulties, but developing countries should not lose confidence, but should continue to improve their business environment to enhance their attractiveness for foreign investors,” Li said.
He proposed that developing countries learn from China in practices like the setup of more industrial parks, and trying more original equipment manufacturing to find a proper position in the global value chain — a move that can minimize business risks in a highly competitive market.
He also suggested more investment between governments, especially in the construction of infrastructure, which has a huge demand for capital.
The UN organization's mission is to promote industrial development for poverty reduction, inclusive globalization and environmental sustainability.
It set up a new office for investment and technology promotion in Shanghai on Wednesday.
