CHINA TOPIX

11/22/2024 11:57:48 am

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Las Vegas Woos Chinese Investors

An economic delegation from Las Vegas, Nevada is set to visit China to entice Chinese investors to invest in southern Nevada and to attract more tourists to Las Vegas.

The delegation, coming from the Las Vegas Global Economic Alliance (LVGEA), a non-profit organization, will visit Hong Kong, Taipei, Beijing, Shanghai, Shenzhen and other Chinese cities, China Daily reported.

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Tom Skancke, president and CEO of LVGEA, said the delegation is charged with informing China that Las Vegas is a global business destination and promote southern Nevada as a top destination for Chinese investment.

The LVGEA is particularly looking to entice Chinese investors in technology, real estate and manufacturing, where the state of Nevada is highly competitive and has a relaxed regulatory environment.

Chinese real estate buyers have been showing great interest in owning US properties, with particular focus on the cities of Las Vegas, Los Angeles, Detroit, Irvine and the state of Colorado, according to a June report by Chicago-based trade group National Association of Realtors.

Skancke hopes that the Las Vegas economic group's trip to China, its fourth in the last two years, will promote Las Vegas as a viable business destination and not just a gambling center for local and global tourists.

"We do more than tourism and conventions, conferences, and business meetings here. We also have a business community that, for a number of years, has just not been promoted globally," he said.

He added that Nevada has some of the lowest taxes in the country and provides a really good - and oftentimes better - business environment than its surrounding states.

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