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Business / Companies

Zhongkun pledges to fight for Iceland project

By Mei Jia (China Daily) Updated: 2012-12-05 09:27

He now plans to protest direct to the Icelandic government, but said he feels there has been a lack of friendly, professional respect during the whole process.

"The investment environment has not been fully open. I deserve a clear answer, without any more postponing."

Huang and officials from his company said they had experienced much clearer and more transparent approaches in all the other countries in which they had invested, including the United States.

The investment group's Vice-President Xu Hong added: "We follow clear principles and have seen transparency with all our projects in the US.

"But in Iceland, the process has been complicated with politics."

Bao Yujun, president of All-China Private Enterprise Federation, told Xinhua News Agency that the case illustrated just how many Western economies are still suspicious of Chinese enterprises investing overseas, and that the security excuses sounded made-up.

Halldor Johannsson agreed. "I'm disappointed. It's a matter of local politics. There are certain people here who still consider business proposals as political decisions."

He added that other foreign investors had had projects approved by the Icelandic government, at the same time as Zhongkun was applying.

But he suggested Huang should not to take the setback personally.

He said that it was the first time the Icelandic government had received a project application from a private Chinese company, and a committee had been set up to deal with it. The matter had also become complicated by "the size of the land concerned".

"There are misconceptions on Chinese firms, and unluckily Zhongkun has to challenge these old ideas. Mutual understanding is needed, which takes time," he said.

Johannsson said he was confident of a positive outcome because of the generally positive attitude toward Chinese investors.

"I get phone calls everyday from Icelanders asking about inviting Chinese firms to invest," he said.

meijia@chinadaily.com.cn

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