Bruno Le Maire

MNCs in the News-2018-11-30

China moving to improve the business environment for foreign companies, especially in Free Trade Zones (FTZs). China’s National Development and Reform Commission (NDRC) announces that it will permit foreign banks in China to apply for approval for a quota increase in their medium to long-term foreign debt for 2019. Per Donald Trump, the United States may take a bite out of Apple products coming from China which previously have escaped a special 10 percent tariffs on Chinese goods. China’ Huawei finds Kiwis not so soft after New Zealand’s intelligence agency blocks it supplying 5G mobile network equipment to the major domestic telecom provider. Maldives’ new finance minister criticizes true price of Chinese projects, which has led to the Maldives returning to an “India First” policy. Japan’s Mitsubishi Heavy Industries ordered by South Korea’s Supreme Court to pay USD $365,500 in damages to two groups of South Koreans for forced wartime labor. In post-Carlos Ghosn arrest meeting, France suggests to Japanese official “the head of the Renault-Nissan alliance should be from the French automaker.” European firms with business in South Korea push Seoul to upgrade the country’s business regulations to reach international standards. At the 6th Association of Southeast Asian Nations (ASEAN) Connectivity Forum, South Korea’s secretary-general of the ASEAN-Korea Centre states Korea is looking to improve relations with ASEAN countries especially in infrastructure area.

MNCs in the News-2018-01-12

China moving to make Free Trade Zones (FTZs) freer. China punishes Marriott over survey that lists Hong Kong, Macao, and Tibet as independent countries. Apple’s iCloud darkens as it transfers the service to a Chinese company that will operate it and keep all data in China. French Finance Minister welcomes Chinese foreign direct investment (FDI) in France provided it is not “looting.” President Donald Trump’s pressure seems to have driven Toyota and Mazda to select Alabama for USD $1.6 billion production facility. NEC acquires Northgate Public Services for USD $640 million following the British government’s promotion of digitalization. South Korea’s state-operated Korean Development Bank sets price floor on sale of struggling construction firm Daewoo Engineering & Construction. Hyundai invests in Singapore’s Grab in effort to expand in Southeast Asia and reduce reliance on the tumultuous China market. Indonesia’s Ministry of Finance to reevaluate investment attraction programs after no companies applied in 2017. Jakarta and Freeport-McMoRan seek to resolve by June a host of operational issues that plague the future of Grasberg mine. Nissan shortlists Thailand as possible location for Asia-Pacific EV manufacturing facility due to Thai investment incentives. Thai Minister says Chinese investment into country’s rubber plantations must be carefully considered and not impact local farmers. Johor Sultan invests USD $100 million in Sri Lanka’s first pharmaceutical manufacturing sector. New policy decree by Hanoi allows foreign enterprises to provide logistics services in Vietnam. Several of Vietnam’s efforts to divest state-owned enterprises at the end of 2017 did not catch much investor attention.