LOS ANGELES, CA, USA - The World Trade Center Los Angeles (WTCLA) is currently being reinvented under the direction of Stephen Cheung, the President of WTCLA. Mr. Cheung has not only been working tirelessly to reestablish the WTCLA through forging new partnerships and rekindling old ones, but he and his team are in the midst of working on several major events and projects that will support the relaunch of the WTCLA.
Most recently, on January 21, 2016, WTCLA and the Los Angeles Cleantech Incubator signed a MOU agreement that marks the beginning of a partnership that will aid foreign companies wishing to do business in Los Angeles. Over the course of the last 7 months, WTCLA has been successful in establishing a solid outreach strategy with international trade partners. WTCLA has hosted events such as the Los Angeles-Guangzhou-Auckland Tripartite Summit, LA Fashion Week Kickoff Show, Trans-Atlantic Trade and Investment Partnership Conference with the German American Chamber of Commerce, among 18 other international events.
Looking forward, WTCLA plans to host the second annual Select LA in June 2016. Select LA is a prelude to the SelectUSA Summit in Washington D.C. This provides a perfect matchmaking opportunity to connect with influential international investors before the big event in Washington. As the apex of WTCLA’s yearly events, the program will provide the environment to learn more about the region, its network, and most importantly, the opportunities in Southern California. WTCLA also plans to lead various trade missions for the Los Angeles region such as the Hannover-Messe Exhibition this April.
WTCLA has a couple exciting projects in the works. The most exciting being the Foreign Direct Investment (FDI) Report. The United States has become to be the premier destination for FDIs. As one of the most important economic centers in the nation, Los Angeles County has received billions of dollars in global investments because of its diverse and robust industries. In 2009, a FDI analysis found that foreign-owned establishments accounted for 136,000 jobs and $7.6 billion in wages.
Being that the last FDI Report in the booming Los Angeles County economy was conducted back in 2009 based on 2007 data, it is evident that a new FDI report with more recent data is necessary as investment trends have also changed, given the recent and dramatic changes in the global economy. A detailed analysis of FDI in the Los Angeles region will provide Southern California with a better understanding of the current trends and conditions that are shaping the local economy. In turn, companies looking towards the Los Angeles region will have actionable data to make concrete business decisions.
In the upcoming months, WTCLA will be launching their new innovative website where international investors and local exporters will be able to access the relevant international trade information about Los Angeles. Please follow us at www.wtcla.org to find out all the exciting programs WTCLA will be implementing in 2016.
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