19th Party Congress

MNCs in the News-2017-10-27

Shanghai Customs touts 18,000 firms registered in Shanghai Free Trade Zone (SFTZ) since its creation in 2013. State-Owned Assets Supervision and Administration Commission head stresses that state-owned enterprises (SOEs) will play a “leading role” going forward. Toyota claims reduced investment and production at Trump targeted planned Mexican plant not due to politics. Toyota calls for more clarity regarding Brexit plans before deciding to finalize its planned plant in Britain. South Korea’s minister of trade met with Saudi Arabian counterpart to discuss Korea’s planned bid for two nuclear reactors. Korea Development Bank planning to sell stake in Daewoo Engineering and Construction, prompting bids from various notable firms. Airbus planning on partnering with Indonesian state-owned aerospace company Dirgantara Indonesia to build maintenance facility in Indonesia. Riau Andalan Pulp and Paper requests legal certainty for Indonesian investment regarding environmental regulations. Thai Airways International granted permission by the government to enter into joint investment project with Airbus. Thailand’s National Council for Peace and Order approves guidelines for land development in the country’s EEC. Belt and Road Property Development Forum 2018 to draw USD $1.5 billion investments from Malaysia to China. Malaysian minister says no investment deal was finalized during Malaysian government delegation visit to the US. Korean companies shifting investment away from China’s politically difficult market into Vietnam. Southern Vietnam province continues to attract Japanese investment as local People’s Committee aims to ease business concerns.

MNCs in the News-2017-10-20

At 19th Party Congress, China promises greater market openness for foreign investors, but foreign businesses and governments cautious. Top China Banking Regulatory Commission (CBRC) official says foreign banks may get more latitude in entering and operating in China’s banking sector. Chinese outward foreign direct investment (FDI) plummeted 41.9 percent over the first nine months of 2016 year-over-year. In the first three quarters of 2016, Chinese outward merger and acquisitions activity drops significantly in both deal volume and size. Toyota and Mazda seek USD $1 billion incentive package from US states bidding for their joint car factory. SoftBank Group struggling to carry out US investments after several of its deals have been caught up in the CFIUS review process. US Department of Justice demands Kobe Steel release all information related to it falsified steel and metal data. SK-Sinopec JV to expand its Wuhan Petrochemical plant mirroring success of SK Innovation’s China Insider strategy. Korean battery manufacturers finding backdoors into the Chinese market despite Chinese government’s preferential treatment of domestic firms. Indonesia works to attract private investment despite bad atmosphere created by problems with Freeport-McMoran. Freeport-McMoRan facing labor union protests over anticipated layoffs. New US-Thai joint committee formed to increase bilateral investment following Thai Prime Minister’s recent US visit. Malaysia’s Ministry of International Trade and Industries leads trade mission to Europe to attract German investment. MITI reports a decline in investments this year. Vietnamese government begins implementing its divestment plan for Dung Quat Oil Refinery, attracts foreign investors. Foreign brewers eagerly awaiting Vietnamese government’s divestment plans for country’s largest domestic brewer Sabeco.