En­trepreneurs see bright future in Van­cou­ver

China Daily (Canada) - - ACROSS AMERICAS - By XUETING ZHAO in Van­cou­ver For China Daily

Nearly 20 Chi­nese en­trepreneurs and in­vestors held a dis­cus­sion on Wed­nes­day at the Asia Pa­cific Foun­da­tion Canada (APF) Van­cou­ver of­fice to ex­plore Cana­dian gov­ern­ment sup­port for busi­nesses and en­trepreneurs.

Co-hosted by APF and the Jack Austin Cen­tre for Asia Pa­cific Busi­ness Stud­ies at the Beedie School of Busi­ness of Si­mon Fraser Univer­sity, the panel in­cluded Jimmy Mitchell, vice-pres­i­dent of Ad­van­tageBC, and Joan Elan­go­van, di­rec­tor of the Van­cou­ver Eco­nomic Com­mis­sion. They shared in­sights on the ad­van­tages of do­ing busi­ness in Bri­tish Columbia.

“Ten years ago, money flowed from Canada to China mostly, but now many Chi­nese in­vestors are start­ing to in­vest here. Since Jan­uary this year, BC is set to be­come the first for­eign gov­ern­ment to sell bonds di­rectly into the Chi­nese mar­ket. Through fi­nanc­ing, we are link­ing our future di­rectly to China’s econ­omy,” Mitchell said.

Con­sid­ered one of the most cost-ef­fec­tive cities in the world for ex­pand­ing busi­ness, Van­cou­ver has be­come one of the top busi­ness hubs in North Amer­ica. En­trepreneurs in BC not only en­joy the ben­e­fit of the low­est tax rates in North Amer­ica, they also have a bet­ter chance of re­ceiv­ing sup­port through gov­ern­ment fund­ing, es­pe­cially in cre­ative in­dus­tries.

“For Chi­nese in­vestors, Van­cou­ver is an ideal place to step in (and do busi­ness) among cities in North Amer­ica. Here we have a large Chi­nese com­mu­nity, and people are con­nected with var­i­ous home­town-based or alum­ni­based as­so­ci­a­tions. People are con­nected, and re­sources are eas­ily shared with each other,” Elan­go­van said.

“Chi­nese in­vestors should take ad­van­tage of cur­rent tax ben­e­fits and busi­ness op­por­tu­ni­ties here in BC, es­pe­cially in cre­ative and high-tech sec­tors,” she said.

Just in the past year, the BC gov­ern­ment launched a $100 mil­lion ven­ture cap­i­tal fund to sup­port lo­cal tech star­tups, as the gov­ern­ment looks to build a more in­no­va­tive, cre­ative and green prov­ince.

Elan­go­van at­tended the North Amer­ica In­vest­ment and En­trepreneur­ship Fo­rum co-or­ga­nized by the Ts­inghua Univer­sity Alumni As­so­ci­a­tion and the Ts­inghua Univer­sity School of Eco­nom­ics and Man­age­ment Alumni As­so­ci­a­tion’s Western Canada Chap­ter on May 28. She ad­dressed the es­sen­tial role that cre­ative sec­tors play in so­ci­ety and ap­plauded the BC gov­ern­ment for sup­port­ing lo­cal busi­nesses rang­ing from film and me­dia to an­i­ma­tion and IT industry.

Sil­i­con Val­ley-based ven­ture cap­i­tal com­pany Amino Cap­i­tal dis­cussed in­vest­ing in tech star­tups to Van­cou­ver’s Chi­nese en­trepreneurs dur­ing the fo­rum.

“I’m deeply sur­prised by the level of sup­port the BC gov­ern­ment is will­ing to of­fer to help lo­cal busi­nesses grow,” said Larry Li, man­ag­ing part­ner at Amino Cap­i­tal. “This has cer­tainly made Van­cou­ver even more at­trac­tive to in­vestors.”

A Ts­inghua alum­nus, Li has high hopes for Chi­nese en­trepreneurs in Van­cou­ver and ex­pressed strong interest in future col­lab­o­ra­tion.

The BC gov­ern­ment has fo­cused not only on the do­mes­tic mar­ket, but also on strength­en­ing international trade re­la­tion­ships, par­tic­u­larly with China, a process that cre­ates many op­por­tu­ni­ties for Chi­nese en­trepreneurs.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.