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"The initiative not only helps connect intra-ASEAN, but also links ASEAN to its neighboring countries, especially China," Kim Hourn said.

The Memorandum of Understanding (MoU) was signed between the Sharjah Research, Technology and Innovation Park (SCTR) and the China-Arab Technology Transfer Company, the report said.

China's development in the new era would bring the world more opportunities, Huang said. "China is willing to make joint efforts with other countries to build a better world."

In 2016, the central government began a new effort to rejuvenate the area through industrial restructuring. It hopes to develop the region into a base for advanced equipment manufacturing and raw materials with international competitiveness.

"The problems found in the inspection process should be addressed as early as possible, with results to be delivered for problems such as the resurgence of shutdown production capacity, excessive fees levied on enterprises, obstacles to foreign investment and long delays for approvals of some investment programs," Li said.