(Photo provided to Xinhua Daily)

The Suzhou Industrial Park (SIP) Administrative Committee won the UN Investment Promotion Awards 2023 at the World Investment Forum, organized by the United Nations Conference on Trade and Development (UNCTAD) in Abu Dhabi.

SIP serves as the first flagship intergovernmental cooperation projects between China and Singapore. It’s China’s sole winner of this prestigious investment promotion award in the forum’s 8th edition. The committee was recognized for “pursuing a strategic response to climate change and manufacturing core components for alternative energy vehicles and autonomous driving.”

The forum drew more than 6,000 participants from 160 countries, including government officials, investors, business leaders, and heads of international organizations. A total of 50 organizations worldwide applied for the UN Investment Promotion Awards 2023, which spotlighted efforts to foster the transition to clean, sustainable energy as well as innovative approaches in investment promotion, finance, and partnerships.

For seven consecutive years, SIP has secured the top position in the comprehensive assessment of the overall development of national economic and technological development zones in China.

Over the past 29 years, the park has received foreign investment totaling over $40 billion and attracted 104 companies on the Fortune 500 list to invest in 174 projects and multinational enterprises to open more than 200 R&D centers.