Qingdao, a vibrant coastal city in China, is positioning itself as an increasingly attractive business hub for European multinationals. A clear example of this trend is the recent expansion of the Spanish company IBARMIA, which specializes in the manufacturing of high-end CNC machine tools and has found a favorable industrial environment and essential institutional support for its growth in Qingdao.
On June 18, the sixth Multinational Companies Summit took place in Qingdao, an event aimed at showcasing the “story of Qingdao” in the business sphere. Under the slogan “Qingdao@World: Stories of Multinational Companies in Qingdao,” the summit, organized by Phoenix.com Qingdao, gathered industry leaders to share experiences about investments in the city and how to create a competitive business environment. The event also aims to attract foreign capital and strengthen trust among various market players.
Rong Yihang, general manager of IBARMIA China, emphasized during the event the importance of choosing Qingdao for their establishment in 2018. “The manufacturing DNA of the city resonates with the strategic vision of our parent company,” Yihang stated, highlighting the presence of leading industries such as Haier and Hisense, and the growing demand for high-end products.
The experience accumulated by IBARMIA in Qingdao has confirmed the decisions made in the past. “Every step we take in Qingdao reaffirms our choice; this city not only understands manufacturing, but also knows how to make high-end manufacturing take root and flourish,” Yihang remarked.
Even more promising is the announcement that Modig Machine Tool will join the Chinese market by the end of 2024, forming a partnership with IBARMIA. This collaboration will seek to integrate “European R&D, Chinese manufacturing, and global services,” allowing high-precision components from Modig to be incorporated into various global supply chains.
IBARMIA’s confidence in expanding its production capacity is based on the exceptional business environment offered by Qingdao. Yihang highlighted the support from the municipal government, which has been crucial in aspects such as the efficiency of customs processes and policies aimed at attracting talent.
Looking ahead, Yihang has an optimistic vision: “Qingdao will not only be our production base but also a key piece for accessing the Asian market.” With the precision manufacturing DNA of the Spanish company and the emerging opportunities in China, this synergy is shaping a new paradigm in the global allocation of resources in the Yellow Sea region.
Referrer: MiMub in Spanish
