23 September 2012

Two Chinese firms announce up to $200 million investment and 260 jobs in Victoria, Australia

18 September 2012 - Anhui Joy Sense Cable Co Ltd, announced plans to invest up to A$200 million to establish a manufacturing base in Victoria creating up to 200 jobs. The company, which already has three factories in China with a value of approximately A$4 billion, manufactures aluminium alloy cables used in power distribution networks and urban and industrial construction projects.

Further to this, information and communication technology (ICT) firm VanceInfo announced the creation of an additional 60 jobs in the State. VanceInfo has achieved significant growth in Victoria since establishing its Australian and New Zealand headquarters in Melbourne in November 2011.

The announcements were made as part of Victoria's super trade mission to China - the largest trade mission ever to leave Australian shores. 

The trade mission sets a new global benchmark, with more than 600 delegates representing more than 400 world class organisations participating. The mission is targeting 13 cities across China and it is anticipated more than 2,000 business meetings will occur over the course of the week.

The trade mission is being led by Victorian Premier, Ted Baillieu who welcomed the announcements, saying that it is not only indicative of our strong relationship with China around ICT, but it also reaffirms the strength of our local industry with access to a highly skilled ICT workforce.

"Victoria is an innovative technology hub, with a global reputation for cost-effectiveness and a commitment to delivering world-class products and services. Victoria offers China – our leading trading partner – globally-focused expertise in the development and application of technologies to assist China's growth.”

Victoria has a diverse range of manufacturing and service industries supported by world class research and educational infrastructure and a multi-lingual and highly educated workforce. The state also boasts one of the strongest and most resilient economies in the world, with a AAA credit rating affirmed by both Standard & Poor's and Moody's. 

Source: InvestVictoria