TEDA Welcomes Another Regional Headquarters of a Multinational Company
Recently, Otis Elevator (China) Investment Co., Ltd., a company located in TEDA, was recognized by the Tianjin Municipal Bureau of Commerce as the regional headquarters of a multinational company. Up to now, TEDA has included a total of 9 regional headquarters and 2 headquarters-type institutions, contributing to the continuous growth of the multinational company headquarters cluster. This successful certification once again demonstrates the high recognition of the premium business environment in TEDA by foreign investors and reflects their confidence in TEDA, investment in TEDA, and commitment to deepening their presence in TEDA.
Since establishing the first joint venture in China in 1984, Otis has been deeply rooted in Tianjin for 40 years. Currently, it operate four companies in TEDA, including Otis Elevator (China) Investment Co., Ltd. and Zhongao Smart Technology Development Co., Ltd. In October 2023, Otis signed an agreement to establish their Northern China R&D Center in TEDA. Otis Elevator (China) has evolved into Otis’ major investment platform and the investment headquarters for the China region. To further support the company’s development, multiple administrative departments in TEDA collaborated to assist the enterprise in streamlining the application process and reducing the application time, provided it met the necessary criteria. In the end, Otis Elevator (China) took only 13 days from the formal submission of application materials to successful approval. “The successful application will help drive Otis’ business layout in Tianjin and China,” said a representative from Otis.
Coinciding with the 40th anniversary of the establishment of the Tianjin Economic-Technological Development Area, the successful certification of Otis as the regional headquarters of a multinational company is a gift to TEDA as it approaches its “40th birthday.”
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