ABB Chief: continued improvement in Shanghai's business environment
Technology and automation solution provider ABB said it continues to see improvement in Shanghai's business environment and pledges further support for digitization and automation expansion in the country.
"In the past two decades we've seen Shanghai's vibrant development as an economic hub, with many policies regarding research and development, industry and manufacturing that favor investors," ABB Chairman Peter Voser said in an online interview ahead of the 33rd annual meeting of the International Business Leaders' Advisory Council for the Mayor of Shanghai to be held on Friday.
ABB's new robotics factory in Shanghai into which the company has invested US$150 million will begin operations in the first quarter of next year. The facility will be equipped with an on-site research and development center and is also expected to help accelerate innovation in artificial intelligence.
"The market potential in the country, the availability of talent to run the factory, as well as R&D capabilities, and the encouraging local policies are important factors for us to decide to make new investments here," Voser added.
ABB became a member of the IBLAC in 2005, and this year it proposed for the city to provide additional support for R&D practices and pilot business-academic joint innovation centers to help speed up the delivery of world-class breakthroughs.
It also suggested that the city could leverage collaboration across government, businesses, and academia to foster a systematic approach to sustainable development.