Mitsubishi UFJ Financial Group

MNCs-2017-12-29

Foreign direct investment (FDI) into China’s service sector shows strong performance in 2017 with observers recommending various improvements to draw in more. China’s National Development and Reform Commission (NDRC) is concerned about surges in mobile chips and may launch an investigation. The China Banking Regulatory Commission has published draft rules that would make it easier for foreign banks to enter China and expand their businesses there. NDRC minister says China is considering passing legislation that would improve supervision of outward FDI (OFDI) and clarify the limits that exist. Japan’s Sumitomo among foreign bidders for Indian Railways’ first global tender. Japan’s Kubota to join USD $92 million project to improve water supply infrastructure in Yangon following local government order. LG Display receives green light from Seoul to build USD $4.5 billion OLED production plant in Guangzhou. South Korea’s state-owned Korea Gas Corporation finally collects return on its 2010 investment into Australia’s liquefied natural gas sector. Mitsubishi UFJ Financial Group posed to gain approval from Jakarta to purchase 73.8 percent of Bank Danamon Indonesia. Major foreign motorbike companies to build production and assembly plants in Thailand as government investment packages continue to proliferate. UK firms looking to bid on light rail transit and construction projects from Malaysian government. Japan surpasses South Korea to become largest investor in Vietnam in 2017 as Hanoi attracts more foreign money for infrastructure investment.

MNCs in the News-2017-12-08

Chinese Vice Premier Wang Yang promises significantly better environment for foreign investors. Lego pieces together blocks of winning copyright case in China. Sinopec USA fires up lawsuit against Venezuelan state oil giant PDVSA. Chinese Foreign Ministry spokesman describes Sinopec USA lawsuit against PDVSA as a normal commercial dispute and cautions against blowing things out of proportion. Nissan files charges in international arbitration court against Indian government for reneging on promised tax breaks. Melco vowed to build headquarters in Japan if it were to be approved casino license following country’s recent legalization of casinos. Improving Sino-Korean political relations giving hope to LG Display that its planned Chinese production facility will finally be approved by Seoul. SK Engineering & Construction to build and run hydropower plant in Pakistan, the first such project for a South Korean company in the country, before returning control to Islamabad. Mitsubishi UFJ Financial Group expected to invest at least USD $1.8 billion in PT Bank Danamon Indonesia and will work closely to meet Jakarta’s regulatory requirements. Jakarta to buy Rio Tinto’s 40 percent stake in Freeport-McMoRan operated Grasberg mine as part of its efforts to gain control of country’s natural resources. Bangkok considering new non-tariff barriers to EVs in anticipation of increased imports of Chinese EVs resulting from ASEAN-China FTA. Thailand’s CT Bright has joined with China’s HNA Group to set up an investment fund for Thailand’s EEC. Kuala Lumpur making new efforts to promote investment in automation and smart manufacturing. Malaysia’s Prime Minister calls on foreign businesses to renew investment in the country. Hanoi grants investment certificate to Sumitomo Corporation for USD $2.58 billion thermal power plant in Vietnam’s Van Phong Economic Zone.